Whether it is companies like Uber changing the way we order and pay for taxis or traditional retailers embracing a multi-channel approach to serving customers via shops, websites and mobile applications technology is radically changing how we find, use and pay for services.
The multi-channel retailer can collect instant responses to new product lines and marketing strategies and use that data to inform future decisions about stock levels and wider business strategy.
This data is used to decide on what items to restock – a process which happens not once a month but twice a week – more like a supermarket than a normal clothes retailer.
The company also uses data to inform and improve the rest of its supply chain which can push a brand new product from the designer’s desk to the shop floor in less than three weeks.
It uses complex inventory optimisation modelling to ensure that individual stores get just the stock they can sell and no more.
Where once storage was the forgotten part of IT infrastructure ruled by cost rather than any strategic or business focus now it is central to the future of the business.