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Home / Knowledge / News / Information Technology / Retailers opt for BI tools to boost business
Retailers opt for BI tools to boost business
01
Jun '11
Today, retailer's primary focus, apart from understanding and satisfying the consumer's needs, and preferences, is also on minimizing the lag time.

This is possible only when their business activities are appropriately shored up by Business Intelligence capabilities. Unlike the old processes, BI emphasizes the flow of information back and forth, i.e. from operational to analytical, and vice versa.

Through appropriate BI capabilities, retailers are able to know who is buying their product or service, and why. They gain meaningful insights about various factors that manipulate the customer's buying decisions.

They are able to capture signals from the supply chain and operational processes, and exploit them to drive their business efficiency into new and higher levels.

Traditional concept of BI involved expensive and high-end software. Modern BI process is enriched with alternative technologies, and improved methodologies to provide solutions to businesses beyond financial issues. BI is a concept that is still growing and businesses are demanding new solutions everyday.

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Fibre2fashion News Desk - India


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