QuantiSense in the Media
Turning Data into Intelligence
BI tools enable retailers to drive sales and reduce operational costs.
By Carly Bohach
Retailers are realizing that using business intelligence (BI) technology to better understand customer buying behavior, to drive sales and profitability and to reduce operational costs, is a necessity for the long haul.
According to AMR Research, there are several factors at work for retailers when it comes to business intelligence technology. AMR's Retail IT Budget Study, 2004-2005, completed in partnership with the National Retail Federation, shows that 52 percent of retailers are looking to either add on to or replace their BI systems as part of their retail infrastructure strategies. In addition, an AMR quantitative assessment of broader, cross-industry BI spending confirms this trend, noting a 2005-2006 growth rate of 26 percent in spending on dashboard and scorecarding systems.
Analyzing merchandise, inventory and sales data is a key part of business intelligence technology. Restoration Hardware, a multi-channel retailer of textiles and furniture, is combining Netezza Performance Server (NPS) system and the QuantiSense BI software suite to consolidate data into a central repository. As a result, the retailer can query data such as sales, inventory, merchandise hierarchy and geography to make informed decisions.