Big Data has also been transforming the retail sector and fuelling a shift in the way that brick-and-mortar retailers engage with their customers and run their stores. A recent report from Cisco suggests that in-store analytics alone could add a staggering $61 billion of value to retailers worldwide throughout 2018. While our Data-Driven Buildings report predicts the retail vertical to grow at a CAGR of 18.7% over the next 5 years. “Online sellers can capture, analyze and derive insights from data across multiple channels including search, ads, email, and web logs,” the report points out. In order to catch up, “Physical stores are now beginning to replicate this level of data gathering by installing sensors to gather location intelligence, developing in-store apps and integrating building, business and sales systems to better understand sales patterns, monitor product availability, manage supply chains and improve staffing and operations.” In healthcare facilities, the primary applications for big data may focus on disease identification and diagnosis, epidemic outbreak predictions, drug discoveries and real-time health monitoring, but significant opportunities also exist on the smart building level. Like other buildings, healthcare facilities can use data to optimize building performance in the face of rising operational costs.
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