Companies in the retail sector are using business intelligence solutions to enhance their distribution strategies and boost sales, according to a recent Retail Solutions Online report.
Contributor Rosanne Saccone, the chief marketing officer of a business intelligence solutions vendor, identified several ways retailers are deploying BI. According to the report, retail companies are using analytics to study customer behavior, speed access to business information and empower customer-facing employees.
And many are deploying SaaS-based solutions to enhance their analytics, Saccone reports. These areas include apparel, ecommerce and grocery stores.
“Retailers are gaining insights into time-sensitive sales, inventory and customer data and empowering business users with metrics-based dashboards to optimize performance,” Saccone wrote.
According to a recent Aberdeen Group report, many companies that deploy business intelligence are experiencing healthy returns on their investment. A survey of 118 retailers found 53 percent have deployed an enterprise-wide business intelligence platform. Another 61 percent are focusing efforts to ease the use of BI to improve agility when responding to business needs and market shifts, according to Aberdeen.