Home / Knowledge / News / Information Technology / Aberdeen survey reports for retail business intelligence
Aberdeen survey reports for retail business intelligence
11
Feb '08
Aberdeen, a Harte-Hanks Company, surveyed over 200 retail companies during December 2007 to determine the critical Business Intelligence (BI) strategies, capabilities, and technology enablers that Best-in-Class companies (the respondent companies experiencing top performance vs.

Industry Average and Laggard companies) are employing to improve performance. The findings reveal Best-in-Class retailers are almost two times as likely as Industry Average and are 14 times as likely as Laggards to have increased their gross margin over the past year due to their ability to derive actionable insights from their use of business intelligence.

The top pressure motivating all respondents, including Best-in-Class, to focus on business intelligence is the need to respond more rapidly to customer demand. Additionally, the top challenge that 49% of survey respondents encounter is a lack of clean data for analysis. In order to overcome these obstacles, Best-in-Class companies are:
• Twice as likely as all others to have implemented data cleansing tools
• Over 2.2 times as likely as Laggards to obtain real-time updates
• Over 1.5 times as likely as Laggards to use scorecards to measure performance

With reliable real-time information at their fingertips, Best-in-Class retail companies are able to sense changes in customer demand more quickly and improve their customer intelligence. Their ability to utilize business intelligence is reflected in their bottom line performance, as Best-in-Class retail companies with scorecard capabilities are 2.8 times more likely to have increased their GMROI than all other respondents.

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Textiles | On 20th Feb 2017

Sri Lanka's textile exports rise 2.3% in Jan-Oct '16

Exports of textiles and garments from Sri Lanka increased by 2.3 per...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search