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Business Intelligence / Data / Analytics

In order to be successful in today’s omnichannel retail marketplace, merchants must collect information from numerous internal and external sources, then analyze that data. New solutions can help to optimize incoming data in order to deliver the business intelligence and analytics needed to move retail businesses successfully into the future. This section offers feature articles, special reports, industry viewpoints and the latest news to help retailers make sense out of the growing influx of information.

83% Of Organizations Don’t Think Current IT Systems Will Meet Future Contact Center Needs

RR DimensionData ImageUp to 83% of organizations indicate that their current IT systems are not equipped to meet future business needs, especially within their contact centers. Furthermore, 33% of executives say that their current systems don’t even meet current needs, according to research from Dimension Data.

To address these challenges, organizations are exploring new solutions and are designing innovative technology frameworks. For one, they are implementing a new hybrid technology model in which legacy systems work alongside cloud-based solutions.

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Nature & Découvertes Reduces Network Costs By 50% With Ipanema Technologies

nature-et-decouvertesNature & Découvertes, a European retailer with 83 stores across Belgium, France, Germany, Luxembourg and Switzerland, has reduced application response time by 50% since partnering with application performance management provider Ipanema Technologies. As part of a two-year, enterprise-wide digital transformation, the retailer also reduced network costs by 50% and operating expenses by 10%.

Ipanema helped the Nature & Découvertes IT department facilitate the transformation and automate the prioritization of network applications, including SAP HANA, Microsoft Office 365, POS and a real-time BI solution.

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Gordmans Leverages Loyalty Data To Respond To Customer Preferences

Mid-market retailers face a unique combination of pressures from today’s highly connected consumers. These customers seek the personalized attention and service that smaller retailers are known for, but they have also come to expect the wide product selection and expanded range of delivery options offered by the country’s largest retailers.

The 98-store Gordmans department store chain, celebrating its 100th year in business, faces this paradox, along with the challenge of balancing its upcoming online offerings with the brick-and-mortar stores that are still central to the business. Richard Heyman, Senior Vice President and CIO for the retailer, spoke about keys to success at the Oracle Retail Midmarket Merchandising Customer Luncheon held in conjunction with the NRF 2015 BIG Show in New York City.

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nChannel Improves Product Data Management

Brands and retailers are generating a plethora of data on a daily basis. Although inundating, best-in-class retailers are striving to integrate and analyze this data to unlock valuable insights about their business and their consumers’ shopping habits.

To help brands and retailers better manage product information and access data to measure business performance, nChannel has released an extension of its cloud-based AppSuite solution.

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Vosges Haut-Chocolat Chooses AgilOne To Build Customer Engagement

vosges1Vosges Haut-Chocolat, a manufacturer and retailer of chocolate products, has adopted predictive marketing cloud technology from AgilOne to boost customer engagement and strengthen acquisition campaigns. The retailer expects to use the technology to gain insights from customer data and deliver brand experiences to specific customer segments.

With AgilOne, Vosges Haut-Chocolat can identify groups within its customer base and target products and messages that match their interests, ensuring the delivery of relevant marketing campaigns. The platform enables the retailer to determine future product launches based on consumer taste preferences.

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Taking Things Personally: How Connected Data Enables Personalized Customer Courtship

VP OrderDynamics head shot1The retail environments we recognize today have seen a massive transformation since the storefronts of the 1500s in the English countryside. Each had a sign, a storefront and an owner, serving the unique and very personalized needs of residents in the surrounding hamlets — the clothiers, the haberdashery, the grocery, the cobblers, the butcher and the blacksmith. Owners knew every patron and family by name, along with their inseam measurements, shoe size, weekly grocery list and personal wardrobe preferences.

Since then, retail has come a long way with store design, staffing, inventory and scope. However, it has in many ways lost its focus on knowledge of the customer’s true needs, as retailers have used averages or groupings to scale their merchandising decisions. Further, personalized interactions have fallen adrift with the introduction of today’s mass market selling strategies across brick-and-mortar stores and e-Commerce sites.

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Hancock Fabrics Streamlines IT Operations With EarthLink

IT extends across numerous areas of the business, making it difficult for retailers to streamline their efforts under one department. However, retailers can simplify IT management and reduce costs if they partner with solution providers that have a vast menu of solutions and services.

Hancock Fabrics, which provides sewing and fabric items, has selected several business solutions from EarthLink to simplify infrastructure operations throughout the company via a secure managed network. The company will implement the solutions in all of its 262 retail locations across the U.S., and expects the deployment to reduce overall IT-related costs by 20%.

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Orchestro Secures $9.8 Million Funding

orchestroOrchestro, a provider of demand analytics solutions, has closed a $9.8 million funding round led by Novak Biddle Venture Partners. All existing Orchestro investors, including CNF Investments and New Markets Venture Partners, also participated in the round.

With the funding, Orchestro aims to expand its sales and marketing efforts, capture increased demand in the value of “click-and-mortar” analytics and grow its footprint within mid-tier CPG companies and brands in emerging markets.

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Oracle Acquires Datalogix To Enhance Data Cloud Offerings

Oracle-Datalogix logosOracle has reached an agreement to acquire Datalogix, a consumer data collection company that positions retailers and other B2C companies to connect offline consumer spending to their digital marketing initiatives. Financial terms of the agreement were not disclosed. 

Once completed, Datalogix will combine with the Oracle Data Cloud to enhance its Data as a Service (DaaS) offerings. Both companies will continue to operate independently until the transaction is finalized.

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Cloud Computing Adoption Spurs Business Transformations

Four out of five (81%) business executives believe cloud computing has given them a competitive advantage over their rivals and has helped them react more quickly and effectively to change, according to a report sponsored by NetSuite.

For the study, titled: Disrupt, Collapse, Transform: The Role of the Cloud in Industry Transformation, global industry analyst firm Frost & Sullivan surveyed 1,500 senior executives across multiple industry sectors in the U.S., Australia, Singapore, UK, Japan, Hong Kong and the Philippines.

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Will Big Data Kill Creative?

VP Vestcom head shotThe Internet was invented the same year we landed on the moon, at the close of a very tumultuous and difficult decade. It was the product of a Defense Department project, and it consisted mainly of email and data transfer for its first 20 years. In the early 1990s, the World Wide Web came about, and a sleeping giant awoke, forever changing the world as we knew it.

Since the very beginning, the Internet has been all about data. Bits turned to bytes, which grew by turns to megabytes, terabytes, then petabytes and zettabytes. Big Data, as it is now known, has arrived, and it continues to grow larger by the second. The ability to mine this data, extract insights from behaviors, and ultimately sell advertising space is the foundation for Google, Facebook and the web itself. Without advertising, we wouldn’t have the web we have today.

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The Data Cycle: The Role Of Analytics In Cross-Channel Campaigns

VP site only HelloWorld head shotAs the digital landscape continues to expand, retail brands are presented with more opportunities than ever to interact with consumers across channels and gather valuable insights along the way.

In a world where data begets data, the most potent campaigns are powered by cross-channel initiatives, which allow consumers to move seamlessly across social channels and experience brand messaging in a way that’s consistent and familiar.

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Predictive Modeling Brings Holiday Cheer To Retailers

VP site only Clarabridge head shotBlack Friday — the Super Bowl of the retail industry — has come and gone, but holiday shopping is just getting started. November and December combined are two crucial and competitive months for retailers — and the good news is that the National Retail Federation expects sales during that period to increase 4.1% year over year, bringing total sales to $616.9 billion and dwarfing the 3.1% increase during the same time last year.
 
One way retailers can make the most out of the holiday shopping season is to ensure their company is up-to-date with the latest analytics technology. Making customers happy — and, in turn, making them buy — is imperative to a successful and cheerful holiday season. Luckily, data about social media sentiment, call center feedback, survey responses, buyer behavior, sales and more, hold clues as to what’s needed for a successful season — from the right marketing campaigns to the best product mixes and everything in between.
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