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Business intelligence to aid retailers, says PBT
As market changes in the local retail industry bring about increased competition to the sector, companies need to think differently about their business models and use tools such as business intelligence (BI) to compete effectively, according to BI, advanced analytics and information specialist group PBT.
BI is more than just a buzz word or a dashboard tool to integrate data - it turns data and information into a useful asset - from identifying and managing business risk to anticipating internal and external opportunities in organisations.
"This can create a clear competitive edge and stimulate innovation against market change and competition," PBT said.
A recent report by PwC & TNS Retail Forward, indicates that the retail industry is becoming more complex and is changing at an alarming rate.
"The reality is that today, retailers are faced with aspects such as continuously changing demographics and the fact that the new consumer is indeed king. The consumer holds more power than ever before and local retailers now need to start thinking about meeting their every need, effectively, efficiently and on a global scale," said Martin Rennhackkamp, COO of PBT.
Furthermore, he noted that BI could further assist local retailers in identifying gaps within their supply chain - through this identification, rectifications can be made and corrective measures put in place to ensure that the supply chain is fully operational and therefore economical.
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
