Key findings: A data lake serves as a central repository for comprehensive productivity insights. Data lakes support various data types, efficiently stores unstructured data and uses object storage for easy retrieval. Decision making is improved by uncovering patterns, improving decisions and enhancing productivity. Your business might already be collecting data but without a central resource […]
Key points: Retailers can take inspiration from hospitality’s efforts to band together Collaboration can improve operational efficiency, productivity and brand loyalty Start small and set the ground rules early to ensure an effective partnership Sectors such as hospitality are scaling collaboration efforts as they face increasingly challenging trading conditions – should retailers take a leaf […]
Key findings: AI has the potential to boost productivity, but the actual benefits have not fully materialised Like an employee, AI needs trust-building, clear expectations and small projects to demonstrate benefits Accurate and transparent data is crucial for AI performance – poor data inputs can lead to high ‘hallucination’ rates Artificial intelligence (AI) has been […]
Key points: Australian retailers are facing numerous economic challenges and disruptions to business Maintaining a firm oversight on costs and developing contingency plans will strengthen your business Customer loyalty, value creation and investing in your people are key to growing market share The retail headwinds just seem to keep coming. Retailers have endured narrowing margins, […]
Retailers can thrive in 2024 by looking after their people, creating a smooth physical and digital experience and rethinking what drives loyalty.
Businesses considering Copilot for potential productivity gains should factor that cost is a significant challenge.
New legislation recently introduced to the Parliament will allow stronger penalties, greater fines, and even jail time for employers found to have deliberately underpaid their workers, but this will come on top of already strong rules in many states designed to crack down on poor payment practices.
Brand loyalty is necessary when looking to drive purchases in an unstable retail economy. Loyalty requires value alignment and a multi-channel approach to connect with customers. Careful channel customisation, tailored to engage a targeted demographic is key to ongoing engagement
Some hospitality businesses are already using Artificial Intelligence or AI. Not all are using it effectively or to its full potential. AI has exploded into our lives and is here to stay, thanks to services such as ChatGPT. All businesses, including hospitality, will be embracing AI to stay ahead of their competitors and retain and grow customers or members.
With generative AI tools taking the world by storm businesses are set to reap many efficiency benefits. It is unlikely to completely replace roles, but streamline processes with quality control of outputs. Data security and trust are the biggest challenges and a comprehensive management plan is key
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