Research: Customer-Driven Business Intelligence Leads to Retail Success
Retailers have been collecting consumer data for years, but the data has historically been unavailable to the enterprise, according to a new Retail Systems Research (RSR) report, “The Next Generation of Business Intelligence: Driving Customer Insights across the Retail Enterprise.” RSR’s research confirms that using customer-driven business intelligence to inform assortment and space planning processes is a key component of retail success.
“The convergence of product and customer information shows great promise,” said Paula Rosenblum, managing director and co-author of the report. “Poorer performing retailers lag behind retail winners in listening to the voice of their customers.”
“Focusing solely on product to improve top line results is an obsolete retailing perspective,” said Brian Kilcourse, the report’s other author. “Incorporating customer data into decision-making tools in nearreal time is a critical success factor.”
The report identifies the internal obstacles retailers face as they seek to use customer data and the methods successful retailers use to overcome those obstacles. It highlights up-and-coming technologies needed to take advantage of customer data across the retail enterprise.
Click here to obtain a complimentary copy of the report.
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