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The retail industry is undergoing a dramatic shift, as today’s technologically empowered consumers find new ways of transacting with retailers. Online shopping, Mobile commerce and Social media have provided the consumers with an interconnected network for sharing opinions, reviews with each other on brands and products - in turn creating vast volumes of Data. These and other changes in the retail industry are creating important opportunities for retailers. But to capitalize on those opportunities, retailers need ways to collect, manage and analyse a tremendous volume, variety and velocity of data. Simply put, adopt new approaches to keep customers engaged, maintain a competitive edge and maximize profitability.