Abstract
As a research domain, the retail sector has always had many appealing features, such as its size, its multi-faceted and dynamic nature, the possibility for researchers to exploit their own domain knowledge, and an extensive coverage by business analysts. In addition, the above-average availability of good-quality data has historically been an additional selling point to empirical researchers. The paper considers to what extent the latter still holds, and explores a number of additional opportunities and challenges that emerge from the ongoing big data revolution. This is done from five perspectives: retail managers, retailing researchers, public-policy makers, investors, and retailing educators.
Highlights
The papers that have appeared in IJRM's invited “EMAC Distinguished Scholar” series have covered a wide range of topics
Bigger retailers often miss a full understanding of the potential benefits of big data analytics, and are either not willing to invest at a level that would be commensurate to those benefits (Germann, Lilien, Fiedler, & Kraus, 2014), or struggle to gain actionable customer insights from the increasing amount of available data (Leeflang, Verhoef, Dahlström, & Freundt, 2014)
It is important to keep in mind that the big data revolution in itself is largely the consequence of more fundamental technological and digital revolutions
Summary
The papers that have appeared in IJRM's invited “EMAC Distinguished Scholar” series have covered a wide range of topics. Concerns are increasingly raised in the academic community that the abundance of big data will lead to an unhealthy bias in the type of problems being studied (Houston, 2016, 2019; McAlister, 2016). These observations suggest that retailing, for both practitioners and academics, is at the center of a storm of big data opportunities and challenges, which calls for more work on how to derive more value from big data
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