Presentation: Data Insights and Digital Disruption in Retail (MG413)

This presentation, prepared for the MG413 Data Insights module, focuses on the profound impact of digital disruption on the retail sector. It begins by defining digital disruption and then analyzes its effects, emphasizing the role of data as a critical business tool. The presentation delves into the ...Read More

Data Insights

Table of Contents
 Introduction
 What is Digital Disruption?
 Impact of Digital Disruption on Retail Sector
 Types of Jobs in Retail Sector and Skills Required
 Online Research Questionnaire
 Discussion Guide
 Conclusion
 References

Introduction
Digital technology has emerged to be one of the most important aspects of
businesses today. Almost all businesses operating across different industries
have incorporated digital technology in their systems in order to enhance
overall productivity as well as gain a competitive edge in the market. Sector
chosen for this presentation is the Retail sector, which comprises of
businesses that involve buying and selling of goods and service.

What is Digital Disruption?
Digital Disruption can be referred to as a transformation which is caused due
to emerging digital technologies and different business models. These
technologies can impact the overall value of the products and services that are
offered by different organizations in the industry. It can affect the
expectations as well as behavior, culture and business processes in an
industry.

Impact of Digital Disruption on Retail Sector
Technology is constantly evolving the way customers shop and make purchase
decisions. This has made important for the retailers to adopt themselves to the
changing preferences and behaviors of customers.
Role of data as a business tool
The primary role of data is to allow leaders and managers within a company to
make effective decisions based on facts and market trends. Data not only helps in
improving the business processes but also reduce the amount of unnecessary money
and time.

Types of Jobs in Retail Sector and Skills Required
The different types of jobs in the retail sector include sales associate, cashier,
business development executive, customer service representative, a visual
merchandiser etc. Also, in order to build a successful career within the sector
skills that are required by a candidate include clear knowledge of retail,
excellent communication and people skills, ability to handle workload,
problem-solving skills, organizational skills and ability to work as part of a
team/group.

Online Research Questionnaire
Q.1 Do you have any knowledge about the concept of Data Disruption?
a) Agree
b) Disagree
Q.2 How has digital disruption impacted the retail sector?
a) Improve business processes
b) Increase in workload
c) Rise in privacy concerns

Cont…
Q.3 What are the types of jobs available in retail sector?
a) IT Consultant
b) Software Engineer
c) Sales Associate
Q.4 What are the skills that will be required to build a successful career in retail
sector?
a) Excellent communication skills
b) Poor work ethics
c) Poor time management skills

Discussion Guide
A face to face interview with an industrial professional will discuss about the
concept of digital disruption and the impact it has had on the retail sector. The
concept has emerged out to be the most powerful across industries today and
has completely changed the way in which businesses carry out their
operations. The industry professional will also be asked about the types of
jobs that are offered by the sector and skills that will be required to build a
successful career in the same.

Cont…
The industrial professional will be asked to explain the concept of digital
disruption in order to enhance knowledge about how has it impacted not only
the retail sector, but other sectors as well. He/she will also be asked about
how can businesses evolve their operations by incorporating this concept in
their system. A discussion about the various jobs, careers that are available in
the sector and the way in which they have been impacted by digital disruption
will also be done.

Testing the Questionnaire
The questionnaire that is developed was tested upon a member of the
industry. The technique worked out to be very effective as the questions were
well structured and not confusing. The professional was able to answer them
and the information that was gathered was analyzed in a proper way to obtain
desired results. Questionnaires are one of those research tools that are used
widely across various industries in order to collect data.

Conclusion
From the presentation, it can be concluded that digital disruption has brought a
radical change in the retail sector. It has emerged out to be one of the contributing
factors towards enhancing and improving the way in which organizations in the
sector function. There are numerous jobs that are offered by the sector- sales
executive, cashier, customer service representative being some of them. Lastly, in
order to build a successful career, it is important for aspiring candidates to have
important skills like communication, interpersonal, problem-solving skills etc.

References
 Kong, Q. and et. al., 2019. Machine learning in seismology: Turning data
into insights. Seismological Research Letters. 90(1). pp.3-14.
 Tiwari, S., Wee, H. M. and Daryanto, Y., 2018. Big data analytics in supply
chain management between 2010 and 2016: Insights to industries. Computers
& Industrial Engineering. 115. pp.319-330.

Thank You