The Big Data Revolution Breakfast

                Some of Australia’s leading experts on Big Data’s impact on the retail property sector were assembled at the Hilton Hotel on Friday 19 May for the Property Council’s ‘Big Data Revolution’ retail breakfast.

 

Greg Dickason, Chief Technological Officer at CoreLogic, outlined that the pace of technological change is now at the slowest rate that it will be for the rest of our lives. From a retail perspective, the impending Big Data revolution will bring considerable disruption to the market. In order to combat the rise of Amazon and other new players in the Australian retail space, Greg outlined that retail property owners need to ‘go niche’ and use ‘Big Data’ to get better insights on how to service their catchment areas.

Tom Galligan, Senior Consultant at Quantium, drilled down to a practical level on how this new trend will work in a retail context, and how decisions informed by ‘Big Data’ could affect operations. By combining diverse datasets into coherent and meaningful insights, Quantium has been able to multiply its value and provide targeted localised advice based on actual consumer behaviour. 

Following the presentations, Vicinity’s Regional General Manager – Shopping Centre Qld, and Chair of the Property Council’s Queensland Retail Committee, Daniel Sutton, moderated a panel discussion with Tom and Greg, as well as Tanya Freeman, National Information and Digital Director at Urbis and Genevieve Elliott, General Manager of Data Science & Insights at Vicinity Centres.

The panel got beyond the buzzwords, sharing insights from both a technological and asset owner’s perspective on how ‘Big Data’ will impact the retail property sector. Space and experience remains the advantage of physical retail assets. Utilising ‘Big Data’ to help improve these elements will be critical to the future competitiveness of retail assets.

The Property Council thanks Greg, Tom, Genevieve and Tanya for sharing their insights on this increasingly important topic, and Joint Sponsors Urbis and Yardi for their ongoing sponsorship of the retail breakfast series.

Photos from the breakfast can be found here.

Sponsors: