Retailers get intelligent about business
A survey of US-based retailers shows that retailers are increasingly using business intelligence (BI) and detailed transactional data to drive their business decisions, reports DM Review.
The survey by the Retail Systems Alert Group also found that retailers are expanding beyond item movement trends and ranking analysis and instead using BI to drive replenishment, assortment and supply chain optimisation.
While many retailers are using BI to drive the buy-and-sell sides of their and merchandising decisions, most retailers surveyed still do not use BI to calculate the lifetime value of specific customers, with less than half of the retailers in the survey analysing customer acquisition and retention.
Visibility enables business
Database, data warehousing and BI professionals are responsible for popularising metrics and dashboards because they see how visibility into data can enable business opportunities.
According to Intelligent Enterprise, with a good view of the data, consumer packaged goods (CPG) manufacturers can tighten operations by basing decisions on what`s actually selling, not on wishful forecasts.
In turn the CPG manufacturers` retail partners can use similar data to push inventory management responsibility back onto CPG suppliers and lower overhead costs. They can also together to avoid delayed or failed shipments of perishable products and adjust to seasonal changes in demand.
BI delivers for drug companies
An increase in spending on BI and data warehousing by US pharmaceutical companies shows an acknowledgement of the inherent value in providing consistent, accurate and trusted views of integrated drug discovery and development data to key stakeholders, says B-eye Network.
The article says from a business driver perspective, clients are ensuring the safety and efficacy of drugs being discovered, developed and approved for the market and from a business value perspective, decision-making capabilities for managerial processes such as planning and budgeting are being enhanced.
The article concludes that drug companies that are making a multi-year strategic commitment to provide consistent, accurate and trusted views of integrated drug discovery and development data and addressing shortcomings within their BI and data warehousing environments are significantly increasing their business value.
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