Home / Knowledge / News / Information Technology / 1010data helps retailers turn data into profits
1010data helps retailers turn data into profits
04
Nov '08
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.

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.1

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.

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Madhu Jain
Madhu Jain

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search