Using Algorithmic Retailing to Drive Competitive Advantage - Robert Hetu

New Gartner research explores how retailers gain competitive advantage through the application of algorithms that reduce costs and grow top-line revenue. CIOs can use this research to identify use cases that will improve business performance in the unified commerce retail marketplace. Gartner describes algorithmic business as the "enablement of business value through the action of algorithms on data" and regards algorithms themselves as a way to encapsulate and produce intellectual property, knowledge and insight in a reusable form. Algorithms are a set of rules for solving a problem in a finite number of steps, as for finding the greatest common divisor. New technologies create opportunities to advance algorithms, incorporating many more data inputs and steps and even decision-making capability.