From changing consumer habits and preferences, to the accelerated shift towards e-commerce - the continued and unforeseen impact of the COVID-19 pandemic has completely transformed the risk landscape for retailers.
During months of store closures, and stop-start lockdowns, retailers have had to build operational resilience and flexibility into their store estate and workforce, whilst ensuring the highest levels of health and safety in-store to keep both customers and employees safe.
Meanwhile, the booming e-commerce market has forced retailers to address the constantly evolving cyber and fraud risk, while events around the globe continue to disrupt supply chains. As a result, those who lack 24/7 visibility can put operational continuity at risk and produce disjointed customer experience, with all of the reputational and financial risk that brings.
To tackle this, many retailers are turning to on-the-ground information via real-time information platforms, which use AI and machine learning to process billions of data units from thousands of public information sources across the globe to alert them to emerging and sudden threats as they occur.
To delve further into these challenges for retailers and possible solutions Retail Systems was joined by Helen Sutton, Senior Vice President of EMEA and APAC sales at Dataminr.