Emerging Technology Applied Data Analytics Assignment Sample

Emerging Technology Applied Data Analytics Assignment Sample

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Part 1: Adopting Emerging Technologies

1. Introduction

In business, technology adoption recognizes the existence and integration of new technologies into present system or the development of entirely new ones. It is about optimizing the potential of technology in order to react to changing consumer needs (Noordin, Othman, and Kassim, 2017) believe it is insignificant. The technology adoption lifecycle is a typical bell curve that depicts the acceptance or introduction of a new product or innovation. Embracing new technology gives business leaders with a competitive edge. This really is true both personally and professionally, as well as for their business as a whole. An executive who can successfully understand and use the newest technological advancements gains an advantage over other executives (Hamdani and Nugraha, 2020). Implementing new technology is critical for businesses focused on improving delivery times, cost reductions, and user experience.

It has become critical as a result of the COVID-19 pandemic forcing them to rethink their strategy. The situation is even more worrisome for companies that have operated on legacy systems for decades. By introducing more adaptable methods of doing jobs, technology may aid in the acceleration of operations.By implementing technology during the disruption caused by Covid-19, fewer workers and customers are prone to be impacted by any system upgrade problems (Ariffinet al., 2021). Furthermore, less-busy employees have had more time for training. In the long run, this will benefit consumers by increasing staff efficiency.

The use of cloud computing, customer relationship management (CRM) solutions, enterprise resource planning (ERP) software, and other technologies may result in improved company and customer management. Additionally, they may assist businesses in monitoring and analysing performance in order to improve goal attainment. Proper deployment of such systems may result in increased performance and system effectiveness (Rosnizamet al., 2020). Digital transformation is critical for companies to remain competitive. Artificial intelligence, big data, and blockchain technologies have now become extremely popular among start-ups. Embracing new technology enables companies to provide unique products and services, increase income streams, and provide value to consumers. Additionally, it positions them as innovators and risk takers in the eyes of their customers and companies, thus expanding their market and attracting additional investment.

Workflows facilitate the integration of interdependent processes as well as the automation of repetitive activities in companies, thus increasing time management and efficiency. Technology may be critical in automating a variety of activities, including marketing, onboarding, media advertising, purchase and sale, and reimbursements. Customers will start to view them as superior options for collaborative work (Hamdani and Nugraha, 2020). Additionally, it may result in higher goodwill for a company. The following report analyses the incorporation of emerging technologies and their consequences for Tesco, as well as the report emphasises the significance of embracing new technological trends for improvement of organizational management. As a result, Tesco, as a global retailer, must embrace emerging technology in order to maintain a competitive edge and thrive in today's changing business environment.

2. Analysis and identification of two distinct technology usage

2.1 Explanation of its importance in the organisational context

The rise in the usage of AI:

For years, the retail sector has been undergoing a digital revolution. Retailers seeking to remain competitive must look no far beyond artificial intelligence in the retail industry. By 2020, it is estimated that 85 percent of businesses will use AI, those that do not risk losing significant market share to rivals (Cao, 2021). AI enables merchants to predict demand more accurately, make more informed pricing choices, and maximize product positioning.

The retail environment is being transformed by artificial intelligence (AI). Retailers can utilise AI in a variety of ways to engage with consumers and run more efficiently. From being used computer vision to customise promotional offers in instantaneously to applying machine learning algorithms for inventory management, retail stores can leverage AI to connect with customers and run more efficiently (Rodriguez, 2019). To succeed today, merchants must be more responsive than ever to their customers, while also reducing inefficiencies and waste from their operations. At the retail edge, alternative forms of AI assist consumers in detecting customer intent and improving the shopper's experience appropriately. However, one instance is heat mapping at a shop. Cameras and computer vision work in tandem to disclose which items are picked up, that are returned, and where the consumer travels after departing the shelf.

Tesco, the UK's biggest grocery chain, is introducing checkout-free technology in certain locations, allowing users to check their baskets and go without waiting in line for a cashier. Originally, the renowned store confronts many challenges, ranging from maturing consumer behaviour and management to the need of minimizing food waste and adjusting for contemporary competitors (Heller, 2019). Tesco already has begun testing'scan and go' technology, which allows customers to use the Tesco app and its QR scanner to scan items as they add them to their basket, check out on the app, and leave when done. Tesco, on the other hand, appears to be the first retailer to publicly announce its intention to replicate Amazon Go's entirely contactless approach to food shopping. 

The rise in the usage of Robotics:

Retailers may gain significant cost savings via the utilization of robots in their logistics and supply chain by minimizing stock-out shortages and losses, as well as shrinking caused by administrative mistakes. Additionally, it enables businesses to reallocate sales people to functions that result in increased sales (Donepudi, 2020). While the robots are in the shops, they take photographs of each shelf and aisle, that are subsequently processed and turned into metrics and suggestions regarding out-of-stock goods and price.

Such comprehensive data is extremely valuable in retail, where it would be critical to understand and anticipate customer demand. Stores like Tesco and Ocado now utilize warehouse robots powered by the very same technology partner. Shopkeepers can use Swisslog to evaluate an "automated pallet retrieval" and storage system (Madakam, Holmukhe, and Jaiswal, 2019). For the system, Tesco uses a network of red robot cars, similar to the car from Knight Rider, that drive across narrow tracks to pick up and dropping off pallets that move between floors on conveyors. The technology's goal is to make the data center's storage and processing capacities more efficient.

2.2 Justification for the adoption of the two-technology usage

Following years of hype and expectation, artificial intelligence (AI) is beginning to also have a tangible effect on the retail sector. Within the next several years, artificial intelligence will dramatically change retail, impacting anything from cost structures to consumer experience. AI is inextricably linked to e-commerce, and the coronavirus pandemic's acceleration of e-commerce development makes AI adoption even more essential (Caliskan, Özen, and Ozturkoglu, 2020). AI-advantaged technologies will reshape the industry. This implies that merchants must begin preparing immediately. And such plans should be made at the corporate strategy level, not simply at the technological level. Many businesses see the benefits of AI, but significant barriers exist – for example, talent shortages, workers lacking the necessary skills, inadequate IT infrastructure, and unclear commercialization and adoption plans. Additionally, retail AI is rapidly improving, gaining new capabilities for learning, prediction, and eventually mimicry of human interactions (Brannen, Mughan, and Moore, 2020). The issue for retailers is to make effective use of such skills and to ensure that their organisations are capable of doing so.

Additionally, the use of AI by retail behemoths such as Tesco enables the organisation to save costs and accelerate its whole operation, thus enabling the firm to acquire a competitive edge. Customer behaviour has also altered significantly as a result of the epidemic, with their preference for online shopping and contactless delivery increasing significantly (Caliskan, Özen, and Ozturkoglu, 2020). Thus, the incorporation of AI into Tesco's operations enables the firm to continue operating during a pandemic, which in turn enables the business to make profit even in difficult times.

Because as UK economy picks up from the upheaval of the global financial crisis, several retail businesses that survived the recession are refocusing their efforts on development rather than survival. As the contemporary world wants innovation and convenience, retailers encounter a new challenge: stay current or risk falling behind. As we approached 2020, brick-and-mortar shops faced a slew of severe problems, including strong online competition, growing expenses, and productivity loss, to mention a few (Madakam, Holmukhe, and Jaiswal, 2019). Robotics deployments in a variety of retail locations will continue to increase in 2021 as more retailers see their strategic worth. The capacity to get close use statistics by email reporting as well as cloud-based user interfaces is among the main advantages of autonomous robots. For instance, cleaning robots offer comprehensive data on key performance indicators (KPIs) such as the quantity of store space covered, the number of routes performed, and the proportion of autonomous use, as well as visual heat maps of regions cleaned. This data is hard to get via conventional, manual techniques, but it enables operations and facility managers to check and improve daily cleaning performance, and also manage corporate compliance objectives more effectively. Along with capturing use data, next-generation in-store robots will gather environmental data that can be converted into meaningful insights for optimising operational efficiency. Tesco, the creative retailer, has been working extending its service regions in 2020 to ensuring that deliveries are available with as many people as possible (Donepudi, 2020). Starship Technologies announced today (7/12) that the much-loved robots are now delivering groceries to households throughout the city from Tesco Express shops. Eight Tesco Express locations in the North, East, and West have been introduced to the app, allowing customers to get goods ranging from carrots to cereal directly delivered to their home. Thus, Tesco's use of robotics throughout the pandemic has benefited the firm in continuing its operations without interruption and in gaining a competitive edge.

2.3 Critical appraisal of its value in the organisational context

Tesco's one really interesting characteristic is its replenishment application method. This system transmits data from the checkout point towards the supply department about sales. The supplier or warehouse department may rapidly calculate what more inventory is needed in the store by using the "replenishment application system" (Heller, 2019). " Digital in-store initiatives" were made by Tesco to improve operational strategy efficiency. They placed handheld devices and "Scan as you shop' self-check-out" terminals beside the old fashioned cash registers, so that customers could check out without the help of Tesco employees. Because fewer people are required to do physical check-out, the business and operating model gain financially (Cao, 2021).Therefore, the increased adoption of automation, robotics as well as AI by the company had contributed to add value in the organisational sales as well as operations as it also makes shopping experiences of customers easy in situations of crisis such as the Pandemic. Therefore, Tesco can further implement "Drone" technology as part of its logistics to make its logistics and delivery contactless amid the pandemic.

3. Conclusion

From the aforementioned discussion, it can be concluded that the technology adoption lifecycle is a standard bell curve that illustrates the process through which a new product or innovation is accepted or introduced. Adopting new technology offers a competitive edge for company executives. This is true for both their personal and professional lives, as well as their company in general. Tesco, the largest supermarket chain in the United Kingdom, is deploying checkout-free technology at certain sites, enabling customers to find their baskets and leave without standing in line for a cashier. Initially, the famous shop faces many obstacles, ranging from maturing customer activities and management to the necessity to reduce food waste and adapt to current rivals.

Tesco, on the other hand, seems to be the first store to openly declare its plan to duplicate Amazon Go's completely contactless food purchasing experience. The employment of robots in the supply chain management by retailers may save them a significant amount of money by reducing stock-outs, losses, and loss due to administrative mistakes. Ocado's autonomous fulfilment centres are driven by the same technology Tesco is deploying in its warehouses. "Swisslog's automated pallet retrieval and storage system" is now being evaluated by the store's management team.Thus, Tesco's usage of robots and artificial intelligence during the pandemic aided the company in maintaining uninterrupted operations and obtaining a competitive advantage.

References

Noordin, F., Othman, A.K. and Kassim, E.S. eds., 2017. Proceedings of the 2nd Advances in Business Research International Conference: ABRIC2016. Springer.

Hamdani, N.A. and Nugraha, S., 2020. The influence of information technology and entrepreneurial orientation on competitiveness and business performance. In Advances in Business, Management and Entrepreneurship (pp. 565-569). CRC Press.

Ariffin, S., Abdul Manan, H., Ahmad, N., Muhammad, N.S., Hamdan, F. and S Kelana, N.S., 2021. Continuous intention to use technology of online food delivery services among young adults. Advances in Business Research International Journa, 7(1), pp.56-64.

Rosnizam, M.R.A.B., Kee, D.M.H., Akhir, M.E.H.B.M., Shahqira, M., Yusoff, M.A.H.B.M., Budiman, R.S. and Alajmi, A.M., 2020. Market Opportunities and Challenges: A Case Study of Tesco. Journal of the Community Development in Asia (JCDA), 3(2), pp.18-27.

Cao, L., 2021. Artificial intelligence in retail: applications and value creation logics. International Journal of Retail & Distribution Management.

Rodriguez, O., 2019. Artificial intelligence in the business of tourism: a market strategy in the UK travel distribution (Doctoral dissertation, University of East London).

Heller, C.H., 2019. The Future Navy—Near-Term Applications of Artificial Intelligence. Naval War College Review, 72(4), p.7.

Donepudi, P.K., 2020. Robots in Retail Marketing: A Timely Opportunity. Global Disclosure of Economics and Business, 9(2), pp.97-106.

Madakam, S., Holmukhe, R.M. and Jaiswal, D.K., 2019. The future digital work force: robotic process automation (RPA). JISTEM-Journal of Information Systems and Technology Management, 16.

Caliskan, A., Özen, Y.D.Ö. and Ozturkoglu, Y., 2020. Digital transformation of traditional marketing business model in new industry era. Journal of Enterprise Information Management.

Brannen, M.Y., Mughan, T. and Moore, F., 2020. The creative use of insider ethnography as a means for organizational self investigation: The “Essence of Tesco” project. In The Routledge companion to anthropology and business (pp. 132-154). Routledge.

Alexander, I.N., 2020. The influence of technological innovations on organization's competitive advantage: Case study on Irish food retail company (Tesco) (Doctoral dissertation, Dublin, National College of Ireland).

Part 2: A Future Trend in Technology

Introduction

Tesco is indeed the United Kingdom's largest supermarket chain. Until this point, Tesco's approach was summed up by the title of Cohen's book, 'Pile it high and sell it cheap,' but growing consumer demand and changing requirements demanded a shift in strategy, with the company planning to expand out of town shops with much more appealing interiors. Additionally, existing shops were refurbished (Alexander, 2020). Tesco employs a brand image strategy. They continue selling their products under their own brand, offering outstanding performance at a lower price. It is a sound approach, since consumers will now associate Tesco to their own brand, rather than their cheaper products.

Tesco's one really innovative feature is its replenishment application method. In-store sensors are used to collect sales data and transmit it to a distribution centre. The vendor or warehouse department may rapidly calculate how much inventory is needed in the shop by using the "replenishment application system". Tesco is able to keep its structure low-cost because to this strategy (Brannen, Mughan, and Moore, 2020). Tesco benefits from the "replenishment application and information system" by keeping prices low and the store well-stocked. The "replenishment application system" sends information to the supply department at the conclusion of each sale. The barcode scanner also assists in the gathering of data and the storing of that data on their system. Tesco's executive team manages innovation via a number of methods. Apparently, innovation doesn't only happen in one place; Tesco is constantly on the hunt for new ideas to implement.As such, the following study analyses and identifies a unique technological trend inside the company and its strategic direction.

Critical evaluation and identification of a special trend in technology in the organisation and its strategic direction

Tesco had consistently invested in technology in order to provide an omnichannel consumer experience and preserve a competitive advantage in the evolving digital UK food market (Larsenet al., 2020). Originally, the renowned store confronts many hurdles, ranging from evolving consumer behaviour and management to the need of lowering food waste and adjusting for contemporary competitors. The bulk of Tesco's response is around its cutting-edge tactics, up-to-date data, including real-time analytics. The company has significantly incorporated Big Data into its operations in order to both survive in unpredictable markets and acquire a competitive edge.

Tesco leverages big data analytics across their value chain, from supply chain to sales and customer service as part of its strategic firection to remain competitive in the UK retail market. Real-time analytics, such as "Broccoli Cam," may be used with data analytics to communicate reorder warning messages in advance through supply chain and logistics threads (Isik, 2018). Tesco regards big data technology as just a multi-channel approach for acquiring future trends in consumer purchase behaviour which satisfies consumers' expectations for a unified experience across mobile devices, physical shops, and desktop computers. For example, a user may install an internet kiosk anywhere at outlet to place an order for products to be collected in-store or use a mobile phone to place orders for food to be delivered to their home (Aielloet al., 2020).

Combining retailing requires businesses to understand each customer's buying behaviour, as well as its mode and logistical preferences. Another remarkable example of Tesco's multi-mode Big data strategy is Blinkbox, an on-demand movie service provider. Blinkbox is intended for Clubcard members whom has subscribed to ad-free movie and television streaming (Flanding, Grabman, and Cox, 2018). Tesco emphasizes that procedures that are envisioned via data analytics are key successful elements, and that these processes are developed over the years, implemented, and tested. These are not prepackaged answers; contrary, they are revolutionary in character.

That is why Tesco understands the importance of dynamic data, technologies, and processes. They need constant driving and transformation. Whereas more data is necessary, customer engagement channels also are critical.

Tesco uses these sensors for a number of purposes, including regulating the temperatures of refrigerators and freezers. This is due to the enormous usage of connected devices that create a huge quantity data. Using open-source technologies, business engineers and data scientists may predict future trends or help the open-source team whenever they can (Isik, 2018). Tesco also uses Github code to support the research team; Tesco aims to preserve market price in the face of more agile and technology-driven competitors by maintaining to utilise significant technological advances. When integrated with IoT and real-time analytics as well as Tesco's technological system, which comprises its global network of stores and distribution infrastructure, this innovative Big Data technology may provide enormous benefits for Tesco in its strategic vision.

Tesco heavily relies on data for sales forecasting when conducting research and management. About 100 billion pieces of information are generated while monitoring hundreds of companies that simultaneously stock thousands of goods (Alexander, 2020). The use of various analytics techniques in database systems huge quantities of data, such as in-database analytics, comes into the equation here. It eliminates the requirement for external analysis to transmit large amounts of data in batches. It's also important to utilise a clustering method to make sure that things are predictable and act in the manner that's anticipated, when to order what, and that it never goes to waste.

Conclusion

To conclude, as the UK's largest food retailer, Tesco develops into a cutting-edge company by data visualisation and using cutting-edge technologies. It was just one among the first supermarket chains to use its loyalty card system to monitor consumer behaviour, and it had a firm grip on the shift to online shopping. It will also be necessary, however, for Tesco to maintain its competitive price strategy and high quality standards across all of its product lines, as well as to expand into new digital services. Online apps that enhance service speed and quality will also have to be developed. It will be essential to integrate a new approach to information and quality management that is focused on innovation.

References

Aiello, L.M., Quercia, D., Schifanella, R. and Del Prete, L., 2020. Tesco Grocery 1.0, a large-scale dataset of grocery purchases in London. Scientific data, 7(1), pp.1-11.

Alexander, I.N., 2020. The influence of technological innovations on organization's competitive advantage: Case study on Irish food retail company (Tesco) (Doctoral dissertation, Dublin, National College of Ireland).

Brannen, M.Y., Mughan, T. and Moore, F., 2020. The creative use of insider ethnography as a means for organizational self investigation: The “Essence of Tesco” project. In The Routledge companion to anthropology and business (pp. 132-154). Routledge.

Flanding, J.P., Grabman, G.M. and Cox, S.Q., 2018. Create Value through Data Analysis and Behavior Change. In The Technology Takers. Emerald Publishing Limited.

Isik, Ö., 2018. Big data capabilities: an organizational information processing perspective. In Analytics and Data Science (pp. 29-40). Springer, Cham.

Larsen, N.M., Sigurdsson, V., Breivik, J., Fagerstrøm, A. and Foxall, G.R., 2020. The marketing firm: Retailer and consumer contingencies. Managerial and Decision Economics, 41(2), pp.203-215.