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The Retail BI Evolution


Once the value of BI in retail has been recognised, the evolutionary path of retailers towards BI is one of transitioning from data gatherers to strategic analysts.

An integrated business intelligence solution has a positive impact on business users.

  • BI technology makes basic tasks easier and provides more value.
  • The decision supporting intelligence supports users, motivating them towards becoming more confident in competitive innovation.
  • This in turns leads to enhancement of management skills and ensures the business constantly evolves as the retail industry evolves.

Where previously, the CEO or CFO retained complete command of the information produced throughout the company, this typically lead to silos of information, preventing customer facing managers from being proactive in decision-making and reducing collaboration across stores, and across business functions.

By empowering all users with BI technology, everyone becomes strategic analysts, rather than mere data collectors. The time lag between decisions and actions is significantly reduced, and ensures that decisions are made in context to what is happening now, instead of last week or last month.

Deploying an integrated, operational BI environment provides a more secure and complete system for the data, business rules and analytics - thereby centralising key performance indicators that govern and drive the business.

Next: Implementing a Retail BI System

 

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Retail Index | BI Strategy | Complexities | Barriers | Retail IT Systems | BI IT Optimisation | BI Evolution | Integrated Retail BI | Implementation | Business Benefits | RMS Vendors

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