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.

Is Your Company Truly Agile? Think Again

Agility will soon become the watchword of brands with products sold at brick-and-mortar retailers. In the same way the most agile athletes adjust speed and direction, organizations must change, pivot and adjust often to improve retail execution. Precipitated by unprecedented levels of connectivity, the pace of change has accelerated a thousand-fold. Mobile technology solutions, especially those with the ability to capture images, have become the new enablers. Companies that embrace these tools will be in a better position to compete. Those that are slow to adopt new technology will surely fall behind.

Placemeter Measures Stores' Surroundings With Video

To measure the success of a store’s location, sometimes the retailer needs to figure out just how many potential shoppers they are reeling in. Placemeter has released an urban intelligence platform quantifying the movement of how people and vehicles move throughout urban spaces. Retail businesses can apply the solution to understand their surroundings and measure store performance. Specifically, Placemeter can measure walking direction and store visits, as well as the volume of pedestrian traffic.

Cracking The Big Data Code By Leveraging BI Solutions

Retailers are constantly looking for the best strategies and technologies to help them understand consumers' purchase journeys. But as consumers' expectations of the shopping experience become more demanding, retailers are turning to business intelligence (BI) solutions designed to analyze and report on information gathered from previous interactions. Using BI solutions, retailers can use relevant data to make more informed decisions that can help deliver long-term business success. With the need to address Big Data pervading through all technology-reliant industries, retailers must take great care to understand the concepts and practical uses for BI and analytics solutions. SAS defines Big Data as “the exponential growth and availability of data, both structured and unstructured,” indicating that as the data pool gets larger, more measures must be taken to make it useful for business purposes.

Z Gallerie Selects Full Suite Of Cloud-Based Aptos Solutions

  • Published in News Briefs
Fashion-forward home brand Z Gallerie will deploy a full suite of cloud-based retail solutions from Aptos (formerly Epicor Retail Solutions). The end-to-end omnichannel solution, delivered in a Software as a Service (SaaS) model, provides Z Gallerie with strong CRM and e-Commerce functionality combined with solid financial reporting capabilities. Z Gallerie…

Shrink As Percentage Of Sales Climbs 50% In 2015

The combination of a still-slow world economy straining consumers' buying power, along with decreased spending by retailers on loss prevention, has led to a significant increase in global shrink numbers. As a percentage of sales, shrink rose from 0.94% of total sales in 2014 to 1.42% this past year, an increase of more than 50%. In the U.S., the shrink percentage rose even more steeply, from 1.28% in 2014 to 1.97% in 2015, a 54% jump. These figures are from the latest Global Retail Theft Barometer, a survey of more than 200 retailers representing 113,000 stores in 24 countries, conducted by The Smart Cube with retail loss prevention analyst Ernie Deyle and underwritten by a grant from Checkpoint Systems. Total shrink costs in the 24 countries studied equals approximately $123.4 billion (U.S.).

Mi9 Retail Acquires Raymark

Mi9 Retail has acquired Raymark Xpert Business Systems. The newly combined company will offer a broad suite of real-time enabled applications including merchandising, analytics, point of sale, omnichannel, clienteling and CRM, while continuing to support and develop all existing applications. Neither party disclosed a purchase price. Based on the growth of its flagship solution that combines merchandising and business intelligence, Mi9 Retail has experienced strong growth over the past two years. Built on a common set of web technologies, retailers can deploy this solution in the cloud, on premises or as a service.

Kohl's To Open New Store Formats As Part of Growth Strategy

  • Published in News Briefs
Kohl's will add three new concepts to its store footprint in 2016. The department store retailer will open five to 10 smaller, more agile 35,000-square-foot stores in underserved markets as well as 10 to 15 FILA sports apparel stores in outlet malls. In addition, the retailer plans to open two…

Consumer Demand Signals Reveal Chinks In Amazon's Armor

Retailers of all sizes and kinds have found Amazon to be a fierce competitor. The eTail giant has a number of built-in structural and technological advantages — but it's by no means invincible. That's the message from assortment intelligence provider Ugam, which recently analyzed Amazon's assortment of baseball bats and women's running shoes while factoring in a list of key trending products in these categories in order to compare assortments and pricing with several competing online retailers.

Westfield Hires Chief Data And Analytics Officer

Westfield Corporation, an operator of 40 shopping centers, has hired Raghav Lal as its first Chief Data and Analytics Officer. In this role, Lal will oversee the collection, analysis and dissemination of data at Westfield’s properties, which are in the U.S., the UK, and in the future, Milan, Italy. Lal will lead the company’s newly created big data analytics unit, which will be responsible for conceptualizing, developing and deploying the company’s data strategy.

Kissmetrics Engage Enables Retailers To Optimize Web Site Interactions

Marketers often spend time driving visitors to their web sites and landing pages, but they still have room for improvement when it comes to boosting customer conversion rates. To help retailers bolster conversion rates, Kissmetrics has introduced Engage, a conversion optimization product designed to optimize every web site interaction based on behavioral triggers. Retailers can use this solution in conjunction with the Kissmetrics flagship product Analyze to fix problems throughout the retail spectrum, including email signups, shopping cart experiences or churn reduction.

Whole Foods Becomes Learning Lab For New Cloud-Based Management Suite

  • Published in News Briefs
Already well known for its forward-thinking product offerings, Whole Foods Market will be bringing greater innovation to its IT operations via a new partnership with Infor. The companies will build a cloud-based retail management solution to help enable Whole Foods to operate more quickly and efficiently while also enhancing the…

Optimizely Raises $58 Million In Funding, Increases Revenues 100%

Optimizely, a customer experience optimization platform, has secured $58 million in Series C funding led by global venture capital firm Index Ventures, bringing the company’s total funding to $146 million. In addition to the cash infusion, Ilya Fushman, General Partner at Index Ventures, will join Optimizely's Board of Directors. Andreessen Horowitz, Bain Capital Ventures, Battery Ventures, Benchmark Capital, Citi Ventures, Correlation Ventures, Danhua Capital, Pharus Capital Management, Salesforce Ventures and Tenaya Capital all contributed to this funding round.

Ipsos Retail Performance Releases Cloud Reporting Capabilities

Cloud computing can be attractive to retailers looking to make processes more efficient and to make sure that important information is centrally available, where and when it’s required. To provide users with greater access to these cloud computing capabilities, Ipsos Retail Performance has released its Cloud Reporting offering. With Cloud Reporting, retailers can view in-store analytics from a central platform, to see and manage all of a store’s performance metrics in one location.

RetailNext Acquires Pikato To Enable Personalized Mobile Engagement

On the heels of receiving $125 million in funding in the spring of 2015, RetailNext has acquired Pikato, a cloud-based integrated mobile marketing solution designed to personalize the customer experience. The Pikato solution has been deployed in more than 4,000 stores, reaching millions of users, noted Alexei Agratchev, CEO of RetailNext, in an exclusive interview with Retail TouchPoints. Using Pikato, retail customers have experienced an 8X increase in coupon redemption, 2X increase in basket size, and a 10% boost in profit margin, according to the press release announcing the acquisition. The combination of the two solutions is set to "bring in-store analytics to life," said Jesus Sanchez, CEO and co-founder of Pikato.
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