Black Friday: The cost of downtime at peak shopping season

THE increasing importance of data adds three very real risks to companies - downtime, compliance and security. Over and above these risks, operating off clean and safe datasets has a direct impact on the much-touted innovations of the fourth industrial revolution: artificial intelligence (AI) and machine learning. Intelligent handling and analysis of data in real time is a given requirement for a modern business in an increasingly competitive environment.

Let's look at Singapore specifically. Every day on our city's roads, one cannot help but notice delivery vehicles and motorcycles delivering goods from various online retailers. The uptake of online services in this country is rapidly increasing.

With Black Friday and the retail season upon us, what can we expect from retailers this year? December is considered the most important month for retail locally. However, according to Department of Statistics Singapore, December 2018 was a dismal month for retailers. The volume of sales fell by 6 per cent year-on-year. On the other hand, Black Friday reportedly boosted sales. Referred to as the Black Friday effect, this promotional period is becoming more popular as consumers do their Christmas shopping in November instead of December.