Booz Allen Hamilton

Retail Reality Check

The Risks and Rewards of the New Digital World Order

Retail Reality Check
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Data science is blending with emerging technology to create the ultimate customer experience. While these innovations are turning the fantastic into reality, there are hidden risks that lurk behind such new technologies.

Innovation in the digital age brings emerging cyber security vulnerabilities. Customer data—the new currency of the digital age—makes retailers a prime target for attacks. Retailers are working to balance competitive pressures and opportunities to innovate with unknowns and new threats.

Fortunately, you can get ahead of the changes, the risks, and the competition with a few smart moves:

  • Get serious about cyber security: Cybersecurity can no longer be an afterthought of technology development. You need a comprehensive understanding of how threat actors exploit your vulnerabilities and the cyber security implications that new technologies pose.
  • Apply a disciplined approach to technology development: Comprehensive and robust cyber security testing must be part of product development. You should not only test individual aspects of your technology (e.g., specific functions or sections of code) but also test the entire technology, with all elements integrated.
  • Use Big Data as a big stick: Retailers are also harnessing the power of data science and emerging technologies through predictive cyber threat intelligence to protect against the new that risks big data and emerging technologies create. Predictive cyber threat intelligence is transforming the retail industry’s ability to gather, mine, and analyze vast amounts of cyber security threat information to protect against advanced persistent threats, fraud, and insider attacks.

With the convergence of emerging technologies, data science, and cyber security, trust is an even more critical part of your brand. Companies that build the trust in their systems, while leveraging the benefits of new innovations, will win market share.

At Booz Allen Commercial Solutions, we combine industry knowledge and relevant experience with the right people and technologies to reduce risk, improve safety, and increase profitability for your business. Together, we can enable you to thrive today, tomorrow, and beyond.