Certain retailers are beginning to utilize real-time data into their business strategies by personalizing the services they provide. They’re utilizing the new iBeacon technology to identify shoppers by their smartphones, thus gaining access to social media posts, and allowing them to tailor the shoppers experience to target their specific value proposition.

These actions responding to companies like Amazon’s incredible success analyzing consumer data. I believe this decision, to transition to a more real-time data model is a sensible one. As Rita McGrath has affirmed in her Transient Advantage article, it’s incumbent on businesses to keep re-evaluating their business strategies, as “sustainable advantages” are long gone in our ever evolving, competitive business world. She also advises businesses to consider arenas, which is what these retailers are doing. They’re not trying to imitate other retailers; rather they’re emulating the online retail service models use of the cloud database. Using real-time data will also encourage entrepreneurial growth since employees have a limitless creative capacity for improvements they can implement with their newfound wealth of information. In essence, this move allows retailers to be more knowledgeable on their consumer’s behaviour, reinforce and better their relationship with consumers, and therefore be better equipped to deliver targeted and effective value propositions to them.