The Evolution of Retail Business Intelligence

Retailers have been collecting data on their customers, products, and transactions since the 1970’s when barcodes became mainstream.  In the 80’s RFID was commercialized, and in the 90’s CCTV became more common, increasing the quantity of data retailers collected. Retailers understood that all of this data would allow them to learn more about their customers,…

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Disrupting Retail with Omnichannel

If you are in the retail business than the term “Omnichannel” is not alien to you.  Omnichannel evolved as a concept in a retailer’s book in 2010, and today, focuses on a multichannel sales approach that aims to give customers an uninterrupted/continuous shopping experience. It all started with e-commerce and the loss of revenue that…

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The Path to Better Marketing Through Analytics

As we know, marketing initiatives tend to be abstract, in both concept and payoff.  However, a good marketing strategy can improve customer satisfaction, increase basket size, and even decrease the need for markdowns.  All of these things can improve sales & profitability and have a positive impact on the company.  However, in today’s world of…

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What Is The Key To Success For Retail?

Charles Baldwin, of Cabela’s, changed the game at this year’s RILA Conference.  The key to the transformation is to orchestrate collaboration between all the groups within the company, which is more easily said than done.  However, it appears that Cabela’s has achieved at least the framework. Why is it so difficult to have collaboration across…

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Impressions from the Gartner BI Summit

Gartner’s BI summit is a unique experience that combines engaging talks from thought leaders, with an opportunity to network with some of the best BI minds in the industry. I came away with a few insights on how Profitect is positioned to address the challenges facing BI teams today. Citizen Data Scientists “Shadow BI” is…

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Retail is Detail in Big Data

When It Comes to Big Data, Retail is Detail In our interview “Engineering Profit from Patterns” with Guy Yehiav, CEO of Profitect, we discussed the guiding principles by which Profitect engineered their innovative Profit Amplification Suite for Retail. Guy shared how Profitect is organized around existing Retailer structures to take advantage of natural communication flows; how Profitect keeps the…

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Big Data is Ripe for Disruption

Big Data is seen as an asset, a weapon that can be wielded for disruptive advantage, and yet one of the biggest challenges to unlocking its potential is the lack of available tools, and even more importantly solutions to help companies tackle it. HADOOP, Data Scientists commanding as high as $300,000 salaries, and even luck,…

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Umbrella Retail

The Relationship of an ‘umbrella’ to today’s retail company… Have you ever stopped and looked up at your umbrella when it’s raining.  All of the moving parts it takes to keep you dry.  What would happen if you laid a cross section view of your retail company over that of an umbrella?  At the top…

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Delivering ROI with BI and EBR

Data analysis and reporting has become an important part of retail.  Most retailers use some form of Business Intelligence (BI) or Exception Based Reporting (EBR) as their “go to” tools for analysis.  EBR and BI has only been evolutionary for the retail industry, it has been less revolutionary.  I have found that there are 6…

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Identify, Resolve, Measure

What are the questions that retailers are asking when it comes to analyzing the vast amounts of data, and finding true insights from it? “What do I look for? What information do I gather, and where do I gather it from? Who do I send responsibility to, if not myself? If I am the right…

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How Well Does YOUR TEAM Execute?

If you’re on a sports team the way you execute your play is a major factor in winning or losing.  Multiple variables must work together to create a smooth running, successful system. We see an opportunity, engage with it, and direct ourselves on where to go from there. Sports teams encompass these techniques, while enduring…

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