Architected for Speed and Accuracy, Data Analytics Service and Technology
is Ideal to Support Stores in Critical Fourth-Quarter Sales Efforts
NEW YORK – Oct. 30, 2008
– With retail industry sales slipping and economic uncertainties
driving more fear of spending, retailers must find ways to attract and
keep customers. Forward-thinking retailers can use sophisticated
technology solutions to analyze three key factors in their businesses
that could spell the difference between success and failure, according
to 1010data, a provider of ad hoc analytics for business intelligence (BI).
September
2008 sales figures that were recently released by the National Retail
Federation (NRF), the trade association that represents more than 1.6
million U.S. retail establishments, paint a dire picture for retailers
heading into the holiday shopping season. Federation Chief
Economist Rosalind Wells cited “incredible challenges” for retailers
heading into the last quarter of the year.
Retailers such as
Dollar General, A&P and Drug Fair are making innovative use of BI
technology from 1010data, which helps them analyze unlimited amounts of
data and make better, more informed business decisions that benefit the
bottom line – better positioning them to withstand the current economic
climate.
By doing this, retailers can achieve three key business metrics:
• Smarter Merchandising:
Retailers know that finding the best possible mix of merchandise on the
floor and in inventory is difficult to determine and tough to
achieve. Using 1010data, retailers can quickly and accurately
understand demand, assess the performance of promotions and pricing
actions and enable better vendor collaboration, thus driving business
profitability and ensuring that customers have what they want when they
want it.
• Better Customer Understanding:
1010data helps retailers gain insight from very large datasets in
seconds, helping them better understand and predict customer behaviors,
customer programs, marketing campaign management, click-stream
analysis, customer segmentation and much more.
• Sales and Operations Planning (S&OP) Improvements:
1010data solutions are architected to provide critical, company-wide
insights in real time, giving retailers the information they need to
make immediate decisions that can impact the company and its
profitability, including operational efficiencies, staffing
optimization and loss prevention.
“As always, we find that
winning in retail is not an accident. The best performers are
opportunists, leveraging information and technologies to grab an
advantage in a hypercompetitive marketplace,” according to Brian
Kilcourse and Paula Rosenblum, managing partners, RSR Research.
Understanding
the unique needs of retailers, 1010data’s hybrid BI solution combines a
powerful back-end database with a flexible front-end tool, enabling
fast, reliable queries of detailed data. Delivered as a
cost-effective Software-as-a-Service (SaaS), 1010data lets retailers
store their source transactional data online and quickly and easily
combine it with outside data sources to provide unprecedented real-time
analysis. Implemented in less than six weeks, 1010data’s fully
managed solution gives retailers immediate insight for better business
decisions and immediate ROI.
“In today’s fast-paced,
competitive retail market, the winners are those companies that
understand customers, shopping patterns and preferences better than
their competitors,” said Jim Mattecheck, director of retail services,
1010data. “Traditional approaches to data analytics and BI are
unreliable, expensive and painfully slow in processing and analyzing
the large volumes of retail data. With 1010data’s proven
analytics solution, retailers are not confined to what they can know
from their data – something that has not been offered before by
hackneyed solutions. 1010data empowers its customers to expand
their businesses intelligently, increasing bottom-line revenue and
strengthening customer satisfaction and loyalty.”
About 1010data 1010data
provides high-performance ad-hoc analytics for business intelligence,
empowering organizations with a fast, reliable and easy-to-use solution
to get the most out of data. The company’s hybrid business
intelligence tool provides a unique platform that combines front-end
usability with back-end analytical functionality. Delivered as a
Software-as-a-Service (SaaS) solution, 1010data returns complex,
sophisticated query results from very large datasets in seconds,
allowing organizations to make quick, critical decisions and enabling
them to express complicated business ideas. To learn more about
1010data, visit: http://www.1010data.com.
