Customer-driven business intelligence key to retailers' success
Retail Systems Research (RSR) latest report, The Next Generation of Business Intelligence: Driving Customer Insights across the Retail Enterprise has found that although retailers have been collecting consumer data for years, the data has historically been unavailable to the enterprise. The research confirms that using customer-driven business intelligence to inform assortment and space planning processes are key components of retail success.
"The convergence of product and customer information shows great promise," said Paula Rosenblum, Managing Director and co-author of the report. "Poorer performing retailers lag behind retail winners in listening to the voice of their customers."
"Focusing solely on product to improve top line results is an obsolete retailing perspective," echoed Brian Kilcourse, Managing Director and the report's other author. "Incorporating customer data into decision making tools in near-real time is a critical success factor."
The report identifies the internal obstacles retailers face as they seek to use customer data and the methods retail winners use to overcome those obstacles.
It highlights up-and-coming technologies needed to take advantage of customer data across the retail enterprise. Most importantly, it provides retailers with recommendations for getting up to speed quickly and taking the best advantage of this critical corporate asset.
For a complimentary copy of the report, visit: http://www.retailsystemsresearch.com/_document/summary/252
Source: eMediaWire.com
