Data could force businesses to rethink strategies, report finds

Business intelligence derived from consumer data could improve the operating profit margins of U.S. retailers by 60%, according to a study by the McKinsey Global Institute. Location data could also be used to spur innovation, particularly in the realm of after-sales services, the report notes. Companies looking to cash in on location intelligence will need to hire experts who can make sense of mountains of location data and train their managers to make decisions based on data analysis, experts say.

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