-- 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.
"Business intelligence is the top technology retailers will be focusing on
in 2008," said Jeanette Keene, Retail Analyst, Aberdeen. "Retailers have
realized they can utilize BI as a tool to support their customer centricity
initiatives and their bottom line performance."
"The retail industry is experiencing some unique competitive challenges
involving rapidly growing data volumes and the need to provide more
end-users with relevant business information," said David Hatch, Research
Director, Aberdeen Group. "The emphasis on solving data access, integration
and quality issues is therefore not surprising as retailers struggle to
harness the power of customer data within a growing on-line world."
In order to achieve Best-in-Class performance, retailers need to make their
data a priority. As Aberdeen research found, the ability for a retailer to
leverage their data effectively differentiates the Best-in-Class from
Laggards. With all the tools in place, retailers will be able to measure
and track their performance as well as conduct analysis using 'one version
of the truth' to derive actionable insights for continued improvements.
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© 2008 Aberdeen Group, Inc., a Harte-Hanks Company 260 Franklin Street Boston, Massachusetts 02110-3112 Telephone: (617) 723-7890 Fax: (617) 723-7897 www.aberdeen.com
Contact Information: Media Contact: Aberdeen Harte-Hanks Jeanette Keene (617) 854-5253 jeanette.keene@aberdeen.com David Hatch (617) 854-5239 david.hatch@aberdeen.com