September 24, 2010 | Andrew Asch
Today, retailers have more information than ever about their businesses, but making sense of the flood of information coming their way requires software tools to interpret the vast amounts of data gathered by point-of-sales systems and merchandising-management systems.
Retail analytics can free up time for executives and finance departments to make decisions instead of spending time aggregating and parsing often-confusing data, according to the executives of retail analytics companies.
Two of them, Atlanta–based QuantiSense and Denver–based JCB Partners, recently struck agreements to expand their businesses.
In the fourth quarter of this year, QuantiSense will debut its mobile interfaces of its business intelligence software for the iPhone and iPad. Last month, QuantiSense announced that the Navy Exchange Service Command (NEXCOM) selected QuantiSense’s analytic and business intelligence application for NEXCOM’s group of naval installations around the world.
With clients such as PacSun, Burlington Coat Factory and Casual Male XL, QuantiSense’s software warehouses the complex information these companies generate. Then it helps interpret this information in QuantiSense’s Playbook feature. The Playbook offers executives, store buyers and store managers different scenarios on what action they can take to make the best decision on a certain matter, said Jeff Giberstein, chief operating officer of QuantiSense.
JCB Partners announced on Sept. 17 that its Retail Pathways software was selected by IBM to be one of the programs offered by its Cognos 8 business intelligence software. It will make IBM’s Cognos 8 more user-friendly for retailers, said Tom Griggs, director of marketing and communications for JCB Partners.
JCB executives also will participate in the IBM Information Agenda Channels Tiger Team. This think tank will research ways to make analytics and business intelligence software more user-friendly.
With clients such as Columbia Sportswear, JCB Partners’ software collects disparate data from same-store sales, inventory and customer analytics and puts together models and forecasts where retail executives should make their next move.
About QuantiSense, Inc.
Ranked the #1 Top Software Vendor in the 2012 RIS Software LeaderBoard and counting over thirty marquee retail companies as customers, QuantiSense offers solutions both for retailers that are looking to leverage their existing BI and data warehouse solutions as well as organizations that are looking to acquire a new, state-of-the-art reporting and analytics foundation.
QuantiSense Foundation™ contains pre-fabricated software components that enable retailers to deploy a fully functional retail BI and data warehouse solution in as little as 60 days. Foundation is “BI independent” and can be deployed using any commercially available business intelligence tool. In addition, this solution is also “database independent” and can be implemented using any standard SQL-based relational database.
QuantiSense Playbooks™ are a set of unique, action-oriented retail analytics that automatically surface hidden problems and/or opportunities typically buried in the details of mounds of retail data. Business users across merchandising, store operations, marketing and more are immediately empowered to make highly profitable decisions in a matter of seconds. QuantiSense Playbooks include and are powered by the QuantiSense Retail Exception Engine™, a unique QuantiSense solution that constantly scans item/store and even transaction level data, automatically finding and quantifying the proverbial nuggets of retail gold typically missed using regular reporting systems. QuantiSense Playbooks™ can be purchased either as a stand-alone solution, as Playbooks works with any existing BI tool and/or data warehouse platform. Additionally, QuantiSense Playbooks™ can be licensed in conjunction with QuantiSense Foundation to provide an exceptional turn key BI and data warehouse application.
The QuantiSense roster of retail customers includes Burlington Coat Factory, Destination XL, Hallmark Cards, Michael’s, Pacific Sunwear, Restoration Hardware and Urban Outfitters. Visit www.QuantiSense.com.