Retail Business Intelligence BlogRETAILING WITH INSIGHT

Perspectives on Business Intelligence Trends in Retail Analytics.

5 Techniques for Successful Localized Assortments

Posted by Bill Robinson

Jul 23, 2014

shoe-size-too-big

Local assortments dictate the shopping experience. If you don't get local assortments right, you'll provide a disappointing customer experience.

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Topics: Retail Management, Local Assortment, Retail Analytics, Inventory Productivity

Eight Tips for Size Analytics in Retail

Posted by Bill Robinson

Jul 15, 2014

apparel-sizesIf your store sells shoes or clothes, you want to present your inventory in best possible range and quantity of sizes. Is analytics playing an important role in your efforts? If not, it should.

But size can be an analytics nightmare.

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Topics: Retail Management, Local Assortment, Retail Analytics

Measuring Margin in The World of Omni-Channel Retailing

Posted by Bill Robinson

Jul 9, 2014

young-couple-omnichannel-shoppingLet’s look at what it takes to measure and analyze margin accurately in a world where formerly disparate channels are quickly converging. On the consumer's omni-channel path to purchase, there are many widespread retail practices that act to distort the true picture of margin.

Double Counting

In omni-channel sales, many retailers have not yet sorted out which channel gets credit for the sale. Let’s say the customer ordered on the web and picked up in the store. Whose sale is it?

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Topics: Retail Business Intelligence, Retail Management

Why You're Thirsting for a Single Version of the Truth

Posted by Bill Robinson

Jun 25, 2014

file0001330166183In a prior blog post, “It’s Time to Solve Your Retail Reporting Problem” we described the complex landscape of channel and point solutions typical for today's retailer. We also cited the pitfalls in deploying data warehouses designed for the brick and mortar-era. We argued that this complex landscape is restricting users from gaining a 360-degreee perspective on their customers, inventory, and supply chain. We also said that these limitations lead to competitive disadvantage.

Without a 21st century data foundation, what do users do to cope?

Searching for a Unified View of the Retail Enterprise

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Topics: Retail Business Intelligence, Retail Management

Break Free From Your Printed Retail Reports

Posted by Bill Robinson

Jun 17, 2014

stack-of-printed-repotsEven in some of the largest retail operations we work with, printed reports – stacks and stacks of them produced each week – remain a fixture. But the fact is, in comparison to on-screen reporting, reports printed on paper fail to deliver insight and are much more expensive.

The Incompatibility of Retail BI and Paper

Paper has three unfortunate properties which greatly inhibit its value. Paper is:

  •          Flat
  •          Expensive
  •          Used once then filed or discarded

In contrast, the information used in retail business intelligence is:

  •          Multi-dimensional
  •          Voluminous
  •          Highly reusable

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Topics: Retail Business Intelligence, Retail Management

It's Time to Solve Your Retail Reporting Problem

Posted by Bill Robinson

Jun 10, 2014

reporting-bar-pie-chart-1

Have you "solved" your reporting problem? If it seems you have, you should take another look. Retail reporting can always be improved. And reporting requirements are constantly changing, especially during this time where channels and processes are converging. Yet most retail IT organizations devote fewer and fewer resources to reporting under the mistaken idea that the "reporting problem" has been solved long ago.

Too Many Retailers are Underserved When it Comes to Reporting

From our work with dozens of retailers over more than ten years, two things are clear:

  1. Most retailers users are still seriously underserved when it comes to reporting.

  2. The benefits from serving them better are huge, but unfulfilled.

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Topics: Retail Business Intelligence, Retail Management

Integrating Retail Analytics in an Omnichannel World – Part 1

Posted by Quantisense Retail Insight Team

Mar 27, 2014

convergenceCreating a seamless shopping experience for consumers through all channels, from mobile devices to brick-and-mortar stores, is the omnichannel challenge retailers continue to face in 2014. But applying analytics to the omnichannel retail market makes the challenge of acquiring and reporting omnichannel data even greater.

In this two-part series, we share some of the challenges of integrating information in an omnichannel retail environment, which Bill Robinson, Senior Advisor to QuantiSense, discussed at NRF 2014. 

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Topics: Retail Analytics

Destination XL Sizes Up Retail Analytics to Deliver Localized Assortments

Posted by Quantisense Retail Insight Team

Mar 25, 2014

destination-xl-groupDestination XL (formerly Casual Male) strives to be a “one-stop shop” for its big and tall customers. As the largest retailer of big and tall men’s apparel, the company is on track to remedy a significant problem many big and tall men have—finding clothes that fit.

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Topics: Retail Business Intelligence

A Better Approach to the Retail Accounting: The Cost Method

Posted by Quantisense Retail Insight Team

Mar 18, 2014

Cost_Accounting“I don’t know of any retail startup over the last 15 years that has adopted the retail method.” Paula Rosenblum, co-founder and Managing Partner, Retail Systems Research.

As recently as 2008, as many as half of all retailers employed the retail method of accounting. While the retail method was a tremendous advancement at its introduction in the 1920s, there are several major drawbacks to using the retail method today. Most notably, the retail method does a poor job measuring margin, encourages “gaming the system” and fails to set the proper accounting foundation for multi-channel retailers.

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Topics: Retail Accounting

Designed for a Different Era: Drawbacks of the Retail Method of Accounting

Posted by Quantisense Retail Insight Team

Mar 13, 2014

retail-accounting-2“The retail method is a troublesome anachronism which had its day, its purpose and its value – all of which have passed.” Paula Rosenblum, co-founder and Managing Partner, Retail Systems Research.

Born in the roaring ‘20s, the retail method of accounting (or retail method) allowed specialty retailers to forego the cumbersome cost look-up process at the point of purchase and, to the delight of customers, untethered merchandise from behind counters. An innovation at the time, the retail method was widely adopted by specialty retailers across the U.S., and as many as half of retailers still utilize the method of account today.

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Topics: Retail Accounting

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