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A Model Proposal for Big Data Analytics in the Retail Sector of Bangladesh

Article · August 2021

DOI: 10.47310/iarjbm.2021.v02i04.011

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IAR Journal of Business Management
ISSN Print: 2708-5139 | ISSN Online: 2708-5147
Frequency: Bi-Monthly
Language: English
Origin: Kenya
Website: https://www.iarconsortium.org/journal-info/IARJBM
Research Article
A Model Proposal for Big Data Analytics in the Retail Sector of
Bangladesh
Article History Abstract: This paper attempts to find out the factors that contribute to the success
in retail sector of Bangladesh when using big data analytics in their business
Received: 31.07.2021 operations. Recently, there is a driving success in the retail sector in Bangladesh for
Revision: 09. 08.2021 adopting big data analytics in their operations. So it was necessary for identifying
Accepted: 20. 08.2021 what is/are contributing to this increasing success. To carry out the investigation, 9
Published: 30. 08.2021 constructs were developed including 1 dependent and 8 independent. The 8
Author Details independent variables “Cost saving”, “Increased revenue”, “Speedy data
Ahmed Imran Kabir*, Faiza Tabassum, management”, “Future demand”, “Micro targeting customers”, “Better inventory
Jakowan and Rifat Afrin management”, “Better pricing management” and “Product development” were
expected to be driving the success in retail sector when using big data analytics
Authors Affiliations (Dependent variable). For this, a survey was carried on the mid/higher level
School of Business and Economics, United employees of organizations with a close ended questionnaire including questions
International University, Bangladesh related to the variables. To analyze the survey data a statistical software (SPSS) was
Corresponding Author* used to run reliability tests, multiple regression, and find out the correlations
Ahmed Imran Kabir between the independent variables. 8 hypotheses were developed for individual
Copyright @ 2021: This is an open-access independent variables and were accepted or rejected based on their beta
article distributed under the terms of the standardized coefficient score. In conclusion it was seen that, four hypotheses were
Creative Commons Attribution license which accepted. The independent variables “cost saving”, “increased revenue”, “speedy
permits unrestricted use, distribution, and
data management”, “future demand” were the only contributing factors that drove
reproduction in any medium for non
commercial use (NonCommercial, or CC-BY-
success in the retail sector for using big data analytics.
NC) provided the original author and source
are credited.
Keywords: Big Data Analytics, Bangladesh, Retail Sector, Big Data.

DOI: 10.47310/iarjbm.2021.v02i04.011
INTRODUCTION:
In recent times, the employment of analytics in the all kinds of business sectors, especially the retail sector has proven
to increase success in their daily operations. This research paper aims to prove that, in addition will identify what factors
are actually contributing to this roaring success in the retail sector in the country Bangladesh. Of course, the use of
analytics in the business processes has its own pros and cons, but majority of the organizations feel that the introduction
of analytics in their business processes has made things easier for them.

Some of the drawbacks of using big data analytics in the retail sector has risen concerns among the customers as well
the retailers. Privacy concern is one of them. Customers feel that their privacy are being snatched away when retailers
track their location or store their purchase information for targeting them with personalized advertisements. Although big
data analytics help employees to fasten up their work, it also poses a high cost for managing such a huge amount of data.
Software needed to sort and analyze these data are very expensive. On the other hand, requires skilled people to work
with them. Data quality decreases because of automation of data gathering, sorting and analyzing them.

Some major advantages of using big data analytics in the retail sector of Bangladesh are it saves costs, helps in
product development, speeds up data management, helps in predicting future, helps in inventory management, helps in
price management, helps in micro targeting customers, etc.

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Overall, the use of analytics decreases the use of  There was a time constraint while conducting this
man force as it automates all the processes but on the study. More predictors could be identified if there
other hand. It helps in product development as analytics were no time limitations.
can carry out sentiment analysis of a lot of actual and  Sample size was small. A bigger sample size could
potential customers through social media and find out have given more accurate interpretations.
their preferred types of products, developing their future
products accordingly. The use of analytics lets the Literature Review
retailers to predict future demands while analyzing their In this part of the paper, the literature review will be
stocks. Micro targeting the customers can be easy when previewed from existing and published sources on this
location of customers can be easily known to the topic; this will provide an insight into the existing and
retailers by the use of analytics. current situation of research that has already been done
on this particular topic. The literature review will also
Although there are many cons of adapting big data help us find the answers to the research questions that
analytics in business or retail sector, but the pros are we have generated earlier and help to pick out the
more and outweighs all the cons. This research paper weaknesses in the procedures of the experiment as well
aims to prove that. as the theoretical discordances.

Problem Statement: The description for „Big data‟:

This research topic aims in finding out why big data The first discussion of the literature review will
analytics are driving success in the retail sector in consist of the definition of the big data itself. Big data
Bangladesh. For this, some causative factors were includes the 3v‟s, „volume‟, „variety‟ and „velocity‟
identified and analyzed. (Kitchin and McArdle, 2016, p. 1). Firstly, volume
refers to the proportion of data that has been on an
In total, eight of the factors “cost saving”, increasing growth in the use of retail businesses, broad
“increased revenue”, “speedy data management”, amount of data is available to the companies of this
“future demand”, “Micro targeting customers”, “Better sector and how these companies should make efficient
inventory management”, “Better pricing management” and effective use of them for grabbing new
and “Product development” were the main reasons for opportunities and benefits. The proportion of big data is
the increasing success in the retail sector of Bangladesh increasing aggressively in the retail sector.
for using big data analytics. And then the following
research question was developed: Secondly, variety refers to the different sorts and
Q: “What are the factors contributing to the success in types of data. There can be many varieties of data,
retail sector in Bangladesh for using big data including the traditional type of data such as
analytics”? transactional data or the new type of data from
Facebook, LinkedIn, Twitter, etc. Data can be
Limitations of the Study: unstructured such as videos, audios, texts etc. Data can
There are limitations that are present in this be structured such as data in a table or semi structured
research: or even in the form of all of them altogether
 Some limitations were due to limited resources. (Davenport, Barth, & Bean, 2012).
Only a few organizations around Dhaka were
selected for conducting the survey on their Finally, velocity of data means the frequency and
employees. So generalizing the findings of this speed of the data. Big data can be streamed, called big
paper may not be accurate. data streaming where large sets of data are easily and
 Data was collected at one point of time, only once quickly processed to take out the real-time perceptions.
from all the respondents of the sample. The streaming data are analyzed and possible actions
 The employees were from 2 levels of hierarchy are taken from the results of the analytics, all these
only; the sample could have been more diverse if happen in real time (Russom, 2011). These features of
different levels of employees would be selected as the data make them distinctive from typical data and
respondents for this study. these characteristics make ordinary data into big data.
 The generalization of findings of this papers may Big data is defined by the its features known as high
not be applicable around the entire country because volume, high velocity and high variety which requires
the survey for this study was conducted only inside particular technology as well as systematic
Dhaka. methodologies to convert the information assets into
„value‟(De Mauro, 2016).

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Big data generates value in the economy which their marketing techniques more effectively and
affects the society and economy in a positive manner. efficiently. All the enterprises have a mission of
So we can now derive the definition of big data as the expanding their market share by acquisition of more
high volumes of data with high velocity and a lot of customers and more customer unique IDs. Big data
varieties which requires specific and particular enabled the businesses to track down the purchasing
technologies and techniques to gather, store and sort out behavior of their existing customers and target
information assets. The definition of big data changes customers by using social media analytics with the help
overtime. As data is growing exponentially as time goes of user generated content. More customer data can be
by, the capacity for storing data is also on the increase used from the customer relationship management
in different industries. This makes it mandatory for the system (CRM) to sync with the emails of the clients and
industries to adapt different and more capable data target them in the most appropriate ways.
management systems such as more skilled data
scientists. Product Oriented:
The information gathering about a specific product
IBM also referred to another V of big data in becomes comparatively easy with the introduction of
addition to the 3V‟s „volume‟, „velocity‟, and „variety‟ big data to the retailers. All the information about all
which is the „veracity’ of data. It means that most of the the products are available to almost thousands of stock
data are uncertain and unreliable. For example, the data keeping units and departments of a retail store, as big
that is collected during social media analysis or text data provides access to large amount of data to almost
sentiment analysis from social Medias, most of the data all of the departments of a retail store. Secondly, the
are unreliable and uncertain as it contains human product information such as its features and
judgments but they are also useful. (Gandomi & Haider, characteristics are not bounded by size limits because
2015). So these kind of uncertain data needs advanced big data lets the enterprises to store huge amount of data
techniques and technologies for mining and analyzing regarding a specific product. Therefore, this lets them to
of them. Big data definitions are not confined in these group categories and subcategories of the products and
4Vs rather it evolves for every company according to its narrowing down the targeting of customers in a more
size, location and way of doing their business. proper way. In other words, do micro targeting.

As the size of data is on an aggressive increase as 2.3.3 Time Oriented:

time goes by, all the companies and enterprises require This dimension of big data multiplies the data size.
more newly skilled people to capture, gather, store, Previously during the era of traditional data, retailers
analyze and interpreting the data. This is when the used to look up to weekly or monthly data for analyzing
enterprises will need a skilled data scientist. Data but with the emergence of big data, the retailers can
scientists have a deep knowledge about mathematics now look up to continuous recording of data for
and statistics and are skilled in data gathering, mining analyzing customer buying patterns, inventory levels,
and interpreting. Therefore, the final definition of big store environments, etc. For example, if a retailer wants
data that we will refer to in this thesis is „The data with to know how decreasing or increasing the product
high volume, variety, velocity and veracity that requires pricing will affect the visitation of customers will now
specific technologies and skilled data scientists to be have a way to analyze because of the availability of the
gathered, stored and analyzed for interpretation of data that shows the customer‟s visit to the store linked
information assets.‟ with their transactions. Hence, the retail sectors are
now more inclined towards real-time solutions.
Contributions of Big Data in Retail Sector
The emerging use of technologies such as use of 2.3.4 Location Oriented:
smart phones, social Medias and in-store adaptation of Big data introduction in retail sector has enabled the
technologies for real-time solutions is providing a retailers to carry out target advertising with the use of
plethora of opportunities and benefits in the retail geospatial location targeting of the customers. This
sector. According to Bradlow, Gangwar, Kopalle, and enabled to carry out delivering of the correct message to
Voleti (2017), below are some of the areas/aspects the correct consumer at the correct time. More effective
where big data analytics has made substantial and efficient marketing can be done by the retailers by
contributions: target advertising specific customers based on their
current physical location by tracking down their
Customer Oriented: location. The customer‟s geospatial location is stored in
The introduction of big data in the retail sector has the customer relationship management database and
enabled the retail sector enterprises to move from from there retailers can also derive the customer‟s
aggregate data analyzing to individual analyzing of purchase behaviors, enabling them to do hyper targeting
target customers and existing customers to carry out
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the customers when they are nearby similar or their Data breaches have been on the increase for the use
preferred products. of big data in retailing, according to information
commissioner‟s office. In 2014, Rebecca Minkoff
2.3.5 Channel Oriented: partnered with ebay to do a project named „connected
Nowadays, there are a number of channels through store‟. This enables a large screen to welcome the
which the consumers can access, evaluate and purchase customer and lets the customer browse the inventory of
a variety of products. Customers are increasingly the store as well as select clothes for trialing. The
adapting researching before purchasing method by customer can also adjust the lighting of the trial room
surfing through various websites, comparing prices, through that screen and can also buy something he/she
features and quality then making their purchase likes online through that screen. The retailer can later
decisions. The retailers can benefit from this action in review what the customer could not purchase and then
some ways, they can track down customers surfing, and target advertise those kind of products to that particular
allocating their recourses like staff, money, etc. can customer. While this kind of retail businesses are
bring them more revenue. flourishing worldwide, the privacy concern regarding
what kind of and how much of their customer‟s
These are the dimensions to which retailers should personal information is being harvested is also on the
be focusing onto to do their business in a more efficient rise (Farshidi, 2016).
way and capture a large market share.
Big data in retailing lets the automatic decision
2.4 Risks and Drawbacks of Big Data in Retail making on behalf of the customers with the help of
Sector artificial intelligence and algorithms. It takes decisions
2.4.1 Privacy Issues on behalf of the customers regarding their money,
According to Tene and Polonetsky (2012), the insurance, even what advertisements they will come
gathering of large datasets and analyzing them involves across, narrowing down their choices (Tene &
some serious privacy concerns. As information about Polonetsky, 2012).
customer‟s location, their purchasing behaviors, their
activities online are being studied, as a result raising 2.4.2 High cost of big data management:
concerns for the customers about losing control over There is a high cost of gathering, storing, analyzing
their own personal data and also raising concern about and overall management of big data in retail enterprises.
discrimination of their person data by third parties. Organizations which are smaller try to avoid adapting
Previously during the era of traditional data, big data technologies as they think they would not be
organizations used to have techniques like encoding of able to afford it. But with the right management of
data, encryption, and anonymization of data for resources and budgeting, costs of adapting big data
preventing the linkage of customer‟s personal identity technologies can be decreased.
with their data. But nowadays in the era of big data, it
has become easy for the computer scientists to link back For cleaning and analyzing the data after gathering
the data with the customer‟s personal identity. This them, requires skilled people to transform the data for
makes the people lose trust in the technique of the higher executives to later use them, this is another
anonymization. cost that the firms need to face and this cost is higher if
the data volume is higher. This process also involves
The growth in the use of devices such as close time cost. The companies that do not hire the skilled
circuit cameras, televisions, mobile devices has led to people and use their existing employees possess the risk
an increased risk for exploitation of people‟s personal of faulty analyzation of data which in turn maybe
information although usage of these devices has useless. To avoid this problem, firms may use cloud
provided lots of benefits. Many websites lack sufficient computing but this also possesses data security risks.
security of web interfaces, which lets the hackers take Now to solve this problem, the firms might want to
control of the device being used by the person with the create infrastructure by themselves for stocking and
help of cross site, SQL, etc. Websites lack encryption of analyzing the data but this process is also costly.
information while transporting from sender to receiver Hardware costs are extremely high even if some of the
and vice versa, this lets the hacker to see and read all firms do have cloud computing systems. Big data use
the information being exchanged between them. requires complicated network systems to be maintained,
Insufficient software protection causes the attacker to high power of processing and manipulating the data,
take control over the device being used by the user. All human resource skills for configuring software if the
of these contributes to hampering of privacy. (Shaqiri, firms use them from free sources (Tole, 2013).
2017).

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All these are monetary costs, time and resource data of customer demographic profiles to better
costs that the firms have to incur while using big data understand customer demands. User generated contents
for retailing. are helping companies to a great deal to understand
customer demand better. A huge amount of data from
2.4.3 Deterioration of Data Quality: promotional activities of marketing, reviews from e
When datasets are large in size because of large commerce sites, data that are related to products can be
number of individual‟s records, problems and biases effectively used to predict customer demands better and
arise in the design of studying the data. This also causes help them plan the companies‟ logistics better.
errors in measurement of data. For example, if a retailer Companies can also do social media analytics to collect
is collecting data of various customers on specific chatters from there to look for certain pattern of
attributes or behavioral patterns, in his electronic customer behavior to predict future demands of their
customer records. In this case, data may not be of products (Chong, Ch‟ng, Liu, & Li, 2017). Prediction of
accuracy because it is depending on what the retailer is demand is more efficient in this time, retailers can now
observing, he may miss out on something during find out the demand of a particular product at any time
observation (Cox, Kartsonaki, & Keogh, 2018). The of the year, season, etc. and adjust their inventory levels
variety dimension of big data that we have discussed accordingly. (Chandramana, 2017).
earlier has a part in the decrease of data quality. Big
data has many varieties which makes them difficult to 2.5.2 Better micro-targeting of customers
be evaluated for quality (Taleb, Serhani, & Dssouli, Web provides kind of opportunities for big data too.
2018). For example; social network analysis such as
Abdullah, Ismail, Sophiayati, and Sam (2015) stated understanding user intelligence for more targeted
that there are 4 characteristics that data should have if advertising, marketing campaigns and capacity
they are of high quality- planning, customer behavior and buying patterns also
 Accuracy- No misspellings in data and random sentiment analytics. According to these inference firms
acronyms are not present. optimization their content and recommendation engine
 Completeness- All the data are properly linked (Rajasekar, Dhanamani, & Sandhya, 2015). One of the
between the attributes and specific customers. most important aspects of big data in the retail sector is
 Availability – If data are required, they should be to target customers individually with customized
able to be accessed easily. promotional messages according to his/her preferences.
 Timeliness – Information is updated. This makes advertising more effective and on the other
hand, creates a good personal relationship between the
The two most serious issues that arises because of customer and the retailer, stimulating repeated business.
the poor quality of data according to Abdullah et al. Increased knowledge about the preferences of the
(2015) are- retailer‟s customer helps them in providing the
1. The time required to restore the data and the lost customers with more relevant recommendations for
integrity of the systems purchasing in the future which further facilitates repeat
2. In the absence of accurate data, the firms make business. For example, Nordstrom uses big data
decisions based on their intuition rather than data. analytics to send personalized advertisements to target
They do not get the whole picture of what is customers according to their shopping behavior, whose
happening in their market environment and their information they get from their sales data from stores,
organization. websites or social media platforms (Anderson &
Semmelroth, 2015).
2.5 Factors Contributing To Success of Big Data Use
In Retail Sector 2.5.3 Speedy data management
Independent Variables As stated by Davenport and Dyché (2013) , Macy‟s
2.5.1 Predicting Future Demands: application for pricing optimization of prices is a great
Predicting customer product demands were never so example of how the total time can be reduced for large
easy before the adoption of big data in the retail scale and complicated calculations to weeks, days or
industry. A firm can get competitive advantage in the even seconds. This store has made it possible for them
market over their competitors by having more efficient to do price optimization for its nearly 73 million
supply chains and most of the firms attained this products from 27 hours to only one single day. This
through a better understanding of customer needs and also means that they could re price their products much
demands. The emergence of Information technology more frequently than usual according to changes in the
and data sciences in the business sector has made it marketplace. Big data analytics has let the companies to
possible for companies to predict customer demands conduct real time interactions with their customers with
sing quantitative approaches. Firms like Walmart and the help of data from experiences of customer. This
Kohl uses big data analytics of their sales, pricing and means fast gathering, assembling, processing and
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analyzation of data. There are a range of software and includes : behavior analysis of customers in the store,
hardware architecture of big data technologies which variety and optimization of price, placement of
includes a cluster of servers, these use Hadoop or products, performance improvement, optimization of
MapRoad for analyzing of memory and processing of labor, logistics and distribution , markets that are web
databases, etc. All these technologies are comparatively based (Rajasekar et al., 2015). Big data helps the
faster than the older traditional technologies for retailers to identify the habits of their customers to set
management of data and analyzing them. To the prices of their products s profit maximizing
accompany these faster technologies, agile methods for (Anderson & Semmelroth, 2015).
analysis and machine learning techniques are adopted
for gathering insights faster. 2.5.6 Increases Revenue:
The most eventual challenge of big data analytics
2.5.4 Better inventory management: incorporated inside organizations is to create value for
Retailers get a lot of help in managing their the firm.). In other words, providing valuable and
inventory from big data. Many retailers sell a wide economic insights from data extraction and analyzing.
variety of products to customers and for them it is very With the use of big data analytics, organizations can
difficult to keep track of all of them. Big data allow generate their business value by increasing their sales
retailers to get up to date information about the location (revenue), meeting their customer needs, developing
and size of their inventories (Anderson & Semmelroth, their products and services, etc. Amazon, the big online
2015). In the planning of operations, big data business retailer could increase their sales by 50% after
analytics has helped in management of logistics, incorporating big data analytics in their business.
procurement, inventories, etc. Big data analytics in Grocery chain, Automercados was able to incline their
supply chain of retail also provides a variety of sales by 30% by adaptation of information integration.
advantages regarding the management of inventory. Big data analytics in e-retail sector enables
Organizations are increasingly using ERP systems to personalization and customization of products
analyze gigantic datasets. Information on previous according to customer needs, this can increase sales by
demand forecasting, lead times of replenishment, fixed 10% and increase ROI by 5 to 8 times on marketing
costs for replenishment order placements, holding costs, expenses. Bikeberry.com is an example of this (Akter &
etc. can be generated from the ERP systems. Wamba, 2016).
Organizations can design optimized inventory systems
to handle most complicated challenges in retail 2.5.7 Cost Saving:
inventory management. Using big data analytics in Big data analytics can be used to improve
supply chain of the retail can help retailers to identify transaction efficiency, efficiency of a firm‟s processes,
inventory needs and be more responsive to changes in time and cost efficiency. Big data analytics in online
customer demands. It also allows reducing inventory retails (e-commerce) aims to attain cost savings,
costs dramatically. Clickstream data, also another efficient processes, etc. by transformation of inventory
important kind of big data generates information that management, innovation of products, human resources,
can reduce the backordering and holding cost of etc. Firms can get cost effective processing and storage
inventory of a frim from 3 percent to 5 percent (Huang capacities and advance analytical tools, all of which
& Van Mieghem, 2014). makes it possible for firms to decrease costs and create
benefits pretty easily (Akter & Wamba, 2016). Hadoop
2.5.5 Better Price Management: is a framework for storing huge amount of data on
Most retailers realize that use of technology has distributed clusters. In Hadoop cluster, one-year storage
been increasingly important for retailers to fix prices cost for one terabyte is $2,000. That is 800 times less
(Suciu, Todoran, Ochian, Suciu and Cropotova, 2014). than the traditional relational databases (Alam, Sajid,
According to Liu (2017), using big data analytics Talib, & Niaz, 2014).
technology, the company can find out the customer‟s
willingness to pay range, it is the amount of money a 2.5.8 Product Development:
customer is willing to pay for a certain product or Big data analytics use in the e commerce sector has
service. When the companies can offer fairer price than led the firms to provide customized and personalized
their customers, they can easily attain a competitive products to the customers which include special content
advantage over their competitors in the marketplace. and advertisings. They can distinguish between their
Big data analytics lets firms carry out dynamic pricing loyal/repeated customers and new customers by this
to their products. Dynamic pricing enables firms to (Akter & Wamba, 2016). According to Tan, Zhan, Ji,
achieve an adjustable strategy of pricing their items Ye, and Chang (2015), big data analytics significantly
according to the dynamic customer tastes and provides opportunities for innovation of products
preferences (Erevelles, Fukawa, & Swayne, 2016). according to customer‟s preferences. Use of analytics of
Some of the potentialities of big data in retail sector big data, managers can create models decisions about
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product development which helps to encourage stock management, customer relationship management,
innovation capabilities. Firms are including customer electronic mails, data from various transactions, etc.
sentiments from analysis of big data into product Companies can optimize pricing for their products, can
development. This makes them deviated from a product track current/new trends in the market, and manage
focused innovation to customer experience focused their multiple distribution channels to make their
innovations of products (Zhan, Tan, Li, & Tse, 2018). distribution sales more effective. Retailers with the help
of big data analytics can create customer unique IDs
and profiles according to their buying history,
The analysis of big data further provides interactions on social medias, etc. and create segments
opportunities to speed up the product development, of customers. Then they can target them with tailored
allows designers to get insights based on solid customer products based on their tastes or what people who are
inputs and designs that lowers down the production similar to them are purchasing. Dynamic pricing occurs
costs, and gather customer insights to decrease the online in the retail sector which depends on the stock,
product development costs from innovations (Nedelcu, demand in the market, pricing of the competitors‟
2013). The velocity of big data ensures new product products, etc. Data analytics can greatly help in
development a lot faster and in lower costs by gathering optimizing the price through the use of algorithms.
customer‟s feedback and tracking their behavior in real Analytics of big data also lets the companies predict
time then reporting it to the R&D team to ensure that demand in the market by tracking changing trends in
the new product launched will suit their preferences the marketplace or industry. They can use data from
(Zhan, Tan, Ji, Chung, & Tseng, 2017). social media to do sentiment analysis of the customers.
Once the company can track the trends and demand,
Dependent Variable they know which segments to focus on and managing of
2.5.9 Big Data Analytics Driving Retail Success: their inventory level becomes easier (Chandramana,
Big data makes it possible for retail clients to get a 2017).
better understanding of information related to their

2.6 Conceptual Framework

Figure 1: Conceptual Framework

3.1 Introduction: 3.2 Research Question:

In this part of the paper, the methodology of the “What are the factors contributing to the success in
research paper is discussed. It outlines the research retail sector in Bangladesh for using big data
design, sample selection, how the research data was analytics”?
collected and how all the data were analyzed.

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3.3 Research Setting:  Agree

I have conducted the research through distribution  Strongly agree.
of the questionnaire in person to some of the individuals
in the sample and some other individuals were sent the Some of the questions developed are listed below:
questionnaire through social networking sites to fill it  Big data helped me predict the demands of my
up. products and services for the next
week/month/year.
3.4 Research Design /Methodological Approach  From big data I could know better what my
The intention of this paper is to find out the reasons customers want by observing the records of their
that are contributing to the success of use of big data buying pattern.
analytics in the retail sector of Bangladesh. A s this is a  Big data helped me manage thousands of
quantitative study, initially a research question was customer‟s data in a small amount of time.
developed and some factors that might contribute to the  Algorithms automatically analyses my inventory
success were considered, then a closed ended levels very quickly.
questionnaire was developed to survey the officials or (The whole questionnaire is attached in the Appendix)
top/mid-level managers of the retail companies using
big data analytics in their day to day operations. 3.7 Data Collection:
Quantitative data was collected following the survey Questionnaire was distributed individually to the
and the data were analyzed using the statistical software sample respondents so the data collection was a primary
SPSS to find out the degree of relationship between the data collection method. Data were collected in
independent variables and dependent variable. quantitative form because the questions were closed
ended and Likert scale questions and respondents could
3.5 Sample: answer by choosing any of the options available ranging
The population which is chosen for the research from strongly agrees to strongly disagree. Survey data
paper is all of the employees working in the retail sector was collected from 25 mid and higher level employees
of Bangladesh. From the population, 25 individuals of retail organizations.
were sampled from different retail organizations by the
simple random sampling method. So in this research 3.8 Data Analysis:
paper n=25. The findings from the sample will be used Data collected from the respondents were analyzed
to generalize conclusions to the entire population. by predictive modeling to find the relationship between
the dependent variable and the independent variable.
3.6 Questionnaire Development: Using Spss, multiple regression was conducted on the
The questions were made to find out the data to find the best fit line. The value of the R square
respondent‟s idea, thoughts, experiences and attitude was used to interpret the strength of the relationship
towards the research‟s subject. Firstly, from the between the independent and dependent variables.
dependent and independent variables and the hypothesis Multiple regression helps us to find the degree to which
created from them was carefully reviewed. Focus was the independent variables are influencing the dependent
put on the research question and the main information (target) variable.
that was needed from the sample. All the questions
were closed ended but self-explanatory that contained 4.1 Reliability Statistics
all the needed information so that all the respondents The concept of alpha is that it is used to evaluate
can understand and answer them appropriately. All the assessments and questionnaires. The index of alpha is
questions were Likert scale with ranges from which widely used for test reliability. A very low value of
respondents had to choose. (Shown below) alpha represents a low consistency between items
whereas a very high index represents redundancy of the
 Strongly disagree items (Tavakol & Dennick, 2011). Alpha values of .70
 Disagree or above are considered desirable and are accepted
 Neutral (Taber, 2018).
Table 2: Reliability Alpha Coefficient of Reliability Summary Table
Variable‟s Type Variables Cronbach‟s Alpha
Independent Future demand prediction 0.809
Independent Micro targeting customers 0.835
Independent Speedy data management 0.843
Independent Better inventory management 0.827
Independent Better price management 0.816
Independent Increases revenue 0.796
Independent Cost saving 0.735

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Independent Product development 0.791
Dependent Big data analytics driving retail success. 0.849

4.2 Interpretation of Cronbach‟s Alpha alpha If item deleted” was below the overall Cronbach‟s
Future demand prediction alpha value. From these data we can conclude that the
The Cronbach‟s alpha for the independent value degree of internal consistency between the items is
“Future demand prediction” has a value of .809. This good and the independent variable “Future demand
value proves that there is a good internal consistency prediction” therefore, has successfully passed the
between the items. All the values of the “Cronbach‟s reliability test.

Table 2: Cronbach‟s Alpha For „Future Demand Prediction‟.

Cronbach‟s Alpha N of items
.809 5

Micro-Targeting Customers alpha value. From these data we can conclude that the
The Cronbach‟s alpha for the independent value degree of internal consistency between the items is
“Micro-targeting customers” has a value of .835. This good and the independent variable “Micro-Targeting
value proves that there is a good internal consistency customers” therefore, has successfully passed the
between the items. All the values of the “Cronbach‟s reliability test.
alpha If item deleted” was below the overall Cronbach‟s
Table 3: Cronbach‟s alpha for „Micro-Targeting Customers.
Cronbach‟s Alpha N of items
.835 5

Speedy Data Management value. From these data we can sum up that there is a
The Cronbach‟s alpha for the independent value good degree of internal consistency between the items.
“Speedy data management” has a value of .848. This Therefore, the independent variable “Speedy data
value shows a good internal consistency between the management” therefore, has successfully passed the
items. All the values of the “Cronbach‟s alpha if item reliability test.
deleted” was lower than the overall Cronbach‟s alpha
Table 4: Cronbach‟s alpha for „Speedy data management‟.
Cronbach‟s Alpha N of items
.848 5

Better Inventory Management alpha value. From these data we can sum up that there
The Cronbach‟s alpha for the independent value is a good degree of internal consistency between the
“Better inventory management” has a value of .827. items. Therefore, the independent variable “Better
This value shows a good internal consistency between inventory management” therefore, has successfully
the items. All the values of the “Cronbach‟s alpha if passed the reliability test.
item deleted” was lower than the overall Cronbach‟s
Table 5: Cronbach‟s Alpha for „Better Inventory Management
Cronbach‟s Alpha N of items
.827 5

Better price management of the overall Cronbach‟s alpha value. From these data
The Cronbach‟s alpha index for the independent we can say that there is good internal consistency
value “Better price management” has a value of .816. between the items. Therefore, the independent variable
This value shows an internal consistency of good “Better price management” therefore, has successfully
standard between the items. All the values of the passed the reliability test.
“Cronbach‟s alpha if item deleted” was below than that
Table 6: Cronbach‟s Alpha for „Better Price Management‟.
Cronbach‟s Alpha N of items
.816 5
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4.3 Testing for Homoscedasticity, Linearity and Normality

Normality
The normality of the residuals is checked from the normal probability plot. Here, most of the data are generally
following the normal line (diagonal) and therefore it is not violating any linearity or normality parameters. The residuals
therefore, have no deviations of high strength and are normally distributed.

Figure 2: Normal Probability Plot

Linearity that most of the independent variables share a linear
We check for the linear relationship among our relationship with the dependent variables. Mostly the
independent variables and dependent variables with the data are falling towards the 0 of both the X and Y axis.
use of the scatter plot. In the scatter plot below, it shows Exceptions are here as there are outliers present.

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Figure 3: Scatter Plot

Histogram:
The histogram shows that most of the variables are normally distributed.

Figure 4: Histogram

Correlations:
The correlations table shows the inter relationship Finally, dependent variable (big data success in
between the independent variables. It also tells us about retail) has a positive correlation with most of the
the directional relationship and strength between the independent variables. With big data success in retail,
dependent and independent variables. future demand has a correlation of .289, which has a
positive relationship. With big data success in retail,
Firstly, from these data we can conclude that no speedy data management has a positive correlation of
collinearity is present between the independent .371. With big data success in retail, cost saving has a
variables as all the p-values between the independent positive correlation of .530 and with increased revenue
variables are less than .60. This means that there is a it has a positive correlation of .546, both of which has a
good internal consistency among the variables and no high level of strength.
violations of assumptions occurred.
So most of the independent variables has a medium
Secondly, almost all of the interdependent variables to large strength of correlation with the dependent
have .30 to .60 values which shows positive and variable with a very good level of significance.
medium or large strength of relationships.
Table 7: Correlation

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4.4 Regression the help of this method, we can find out and explain the
For the study that is being conducted, regression degree of variance in the dependent variable caused by
analysis plays an important role. It is a combination of the independent variables.
techniques to find out the inter-relationship between the
dependent and the independent variables. Model Summary
Evaluation:
In this part, it investigates the research question The value of r square is .70, this is shown in the
“What are the factors contributing to the success in model summary table. From this value of the r square
retail sector in Bangladesh for using big data we can conclude that 70% (.70 x 100) of the variance in
analytics”? the dependent variable, which is “Big data analytics
driving retail success” can be explained by the 8 other
There are various types of regression, 3 to be more independent variables. This is a very significant value
specific but the most useful and common one is the for this study. The r square adjusted value is .55 which
standard regression. This type of regression groups all is pretty much close to that of the actual r square value,
the independent variables (predictors) and the representing the true population.
regression is run against the dependent variable. With
Table 8: Model Summary

Anova Table:
The anova tables describes the total statistical difference. In this anova table below, it can be seen that the significance is
.004. This is the p

value from which it can be interpreted that there is a significant difference between the dependent variable (big data
success in retail sector in Bangladesh) and the independent variables.

Table 9: ANOVA Model

ANOVA
Model Sum of df Mean Square F Sig.
Squares
1 Regression 10.660 8 1.333 4.673 .004b
Residual 4.562 16 .285
Total 15.222 24
a. Dependent Variable: BIG_Data_Success_retail_BD_AVG

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b. Predictors: (Constant), Increased_Revenue_AVG, Better_Pricing_MGT_AVG,

Product_Dev_AVG, Future_DEMAND_AVG, Micro_Targeting_Customer_AVG,
Better_INV_MGT_AVG, Speedy_Data_MGT_AVG, Cost_Saving_AVG

Evaluating the Independent variables:

From the below coefficient table, the most crucial column to look at is the standardized coefficients beta. This is the
beta value for all the independent variables, the factors contributing to the success for using big data analytics in the retail
sector of Bangladesh.

In this table, four of the independent variables are showing a positive relationship with the dependent variable. The
other four independent variables have a negative relationship with the dependent variable.
The results are as follows:
 Cost saving = .421
 Increased revenue = .324
 Speedy data management = .296
 Future demand score = .072
 Micro targeting customers = -.150
 Better inventory management = -.154
 Better pricing management = -.155
 Product development = -.399

From these data it can be interpreted that the independent variable that made the largest contribution to the positive
relationship with the dependent variable was “cost saving”, “increased revenue”, “speedy data management” and “future
demand”, respectively.

The other four independent variables “Micro targeting customers”, “Better inventory management”, “Better pricing
management” and “Product development” has a negative and insignificant relationship with the dependent variable.

Table 10: Coefficient Table

4.5 Hypothesis testing factors “cost saving”, “increased revenue”, “speedy data
The main objective of this study was to prove that management”, “future demand”, “Micro targeting
the predictors (independent variables) contributes to the customers”, “Better inventory management”, “Better
dependent variable or the outcome variable. Some pricing management” and “Product development” has a
studies on this matter has proved the same that these

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contributing effect on the success in retail sector for H4: The factor “Future demand” has a positive and
using big data analytics‟ around the globe. significant relationship with the success in retail
sector for using big data analytics.
Now that the contributing factors are identified from This hypothesis is accepted. The beta standardized
the literature review, proceeding to prove all the 8 coefficient of this independent variable has a score of
hypothesis is necessary. 8 hypotheses were generated .072. It has a positive relationship with the dependent
and proved, which the central objective of this study variable. The strength of the relationship is low in
was. strength. The significance value, which is the p value is
.658. This value means that with 34% confidence level
H1: The factor “cost saving” has a positive and it can be stated that the hypothesis is right and accepted.
significant relationship with the success in retail Thus, the relationship between the independent variable
sector for using big data analytics: “Future demand” and the dependent variable “success
This hypothesis is accepted. The beta standardized in retail sector for using big data analytics” is positive
coefficient of this independent variable has a score of and significant.
.421. It has a positive relationship with the dependent
variable. The strength of the relationship is also quite H5: The factor “Micro targeting customers” has a
significant and of medium to large strength. The positive and significant relationship with the success
significance value, which is the p value is .050. This in retail sector for using big data analytics:
value is very close to 0 and it means that with 95% This hypothesis is rejected. The beta standardized
confidence level it can be stated that the hypothesis is coefficient of this independent variable has a score of -
right and accepted. Thus, the relationship between the .150. It has a negative relationship with the dependent
independent variable “Cost saving” and the dependent variable. The strength of the relationship is very low to
variable “success in retail sector for using big data in strength. The significance value, which is the p value
analytics” is positive and significant. is .364. This means that with 63.6% confidence level it
can be stated that the hypothesis is not correct and
H2: The factor “increased revenue” has a positive rejected. Thus, the relationship between the independent
and significant relationship with the success in retail variable “Micro targeting customers” and the dependent
sector for using big data analytics. variable “success in retail sector for using big data
This hypothesis is accepted. The beta standardized analytics” is negative and insignificant.
coefficient of this independent variable has a score of
.324. It has a positive relationship with the dependent H6: The factor “Better inventory management” has
variable. The strength of the relationship is also quite a positive and significant relationship with the
significant and of medium to large strength. The success in retail sector for using big data analytics:
significance value is .060. This value is close to 0 and it This hypothesis is rejected. The beta standardized
means that with 94 percent confidence level it can be coefficient of this independent variable has a score of -
stated that this hypothesis is correct and accepted. Thus, .154. It has a negative relationship with the dependent
the relationship between the independent variable variable. The strength of the relationship is very low to
“Speedy data management” and the dependent variable in strength. The significance value, which is the p value
“success in retail sector for using big data analytics” is is .403. This means that with 60 percent confidence
positive and significant. level it can be stated that the hypothesis is not correct
and rejected. Thus, the relationship between the
H3: The factor “Speedy data management” has a independent variable “Better inventory management”
positive and significant relationship with the success and the dependent variable “success in retail sector for
in retail sector for using big data analytics: using big data analytics” is negative and insignificant.
This hypothesis is accepted. The beta standardized
coefficient of this independent variable has a score of H7: The factor “Better pricing management” has a
.296. It has a positive relationship with the dependent positive and significant relationship with the success
variable. The strength of the relationship is low to in in retail sector for using big data analytics.
strength. The significance value, which is the p value is This hypothesis is rejected. The beta standardized
.139. This value is very close to 0 and it means that with coefficient of this independent variable has a score of -
86% confidence level it can be stated that the .155. It has a negative relationship with the dependent
hypothesis is right and accepted. Thus, the relationship variable. The strength of the relationship is very low to
between the independent variable “Speedy data in strength. The significance value, which is the p value
management” and the dependent variable “success in is .488. This means that with 51% confidence level it
retail sector for using big data analytics” is positive and can be stated that the hypothesis is not correct and
significant. rejected. Therefore, the relationship between the
independent variable “Better pricing management” and
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the dependent variable “success in retail sector for using In conclusion, the answer to the research question is
big data analytics” is negative and insignificant. identified. “What are the factors contributing to the
success in retail sector in Bangladesh for using big data
H8: The factor “Product development” has a analytics”? It can be stated that for using big data
positive and significant relationship with the success analytics, organizations could save costs, increase their
in retail sector for using big data analytics. revenue, speed up their data management and develop
This hypothesis is rejected. The beta standardized their products, thus driving success in the retail sector
coefficient of this independent variable has a score of - of Bangladesh.
.399. It has a negative relationship with the dependent
variable. The strength of the relationship is very low to 5.2 Suggestions for future research and
in strength. The significance value, which is the p value recommendation
is .021. This means that even with a confidence level of Although the research was conducted thoroughly,
98% it can be stated that the hypothesis is not correct some limitations were present. The major limitation was
and rejected. Thus, the relationship between the the time factor. More time needs to be taken for
independent variable “Product development” and the identifying some more causative factors for the
dependent variable “success in retail sector for using increasing success in the retail sector for using big data
big data analytics” is negative and insignificant. analytics.

Hypothesis testing summary: The sample size in this study was n = 25. As only
In this study, the H1, H2, H3 and H4 are accepted as the mid and high level officials were included in the
they have a positive standardized coefficient value but sample size, increasing the sample size was not
on the other hand H5, H6, H7 and H8 are rejected as possible. So a further research can be done using a
their standardized coefficient score was negative, broader sample size, including more organizational
showing negative relationship between the independent officials.
variables and the dependent variable.
The conceptual framework could be expanded by
adding more variables/constructs that contributes to the
5.1 CONCLUSION growing success in the retail sector for using big data
This research topic was arisen out of an interest in analytics. As discussed in the literature review, big data
finding out why big data analytics are driving success in analytics saves organizations a lot of time.
the retail sector in Bangladesh. For this, some causative
factors were identified and analyzed. This study could be conducted on a different
location instead of Bangladesh in different
It was expected that eight of the factors “cost organizations in retail sector so that the results could be
saving”, “increased revenue”, “speedy data generalized across all the retail sector organizations.
management”, “future demand”, “Micro targeting
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