The retail business is not for the faint of heart. With thin profit margins, retaining profitable customers and managing a lean inventory operation can mean the difference between success and failure.
Business intelligence (BI) software can help retail organizations accomplish both of those goals, according to Jill Dyché, a consultant with Baseline Consulting. But, she says, the retail business has some unique characteristics that must be taken into account if BI projects are to be successful.
SearchDataManagement.com recently spoke with Dyché to get her advice for retail organizations looking to improve or even start a BI initiative.
In this 10-minute podcast, appropriate for both business and IT professionals, listeners will:
- Gain an understanding of the unique data management characteristics of the retail industry (1:00).
- Learn how a business intelligence initiative can help lower customer churn and manage inventory (2:40).
- Find out how business intelligence can help retailers differentiate themselves from the pack (4:15).
- Learn how master data management and better data quality can impact retail BI initiatives (5:20).
- Get tips on how to get started with a new retail BI project (7:30).
- Learn how to measure the success (or failure) of retail BI projects (8:40).
Download for later:
- Internet Explorer: Right Click > Save Target As
- Firefox: Right Click > Save Link As
About the speaker: Jill Dyché is a partner and co-founder of Baseline Consulting. Dyché's role at Baseline is a combination of best-practices expert, industry gadfly, key client advisor and all-around thought leader. She is responsible for key client strategies and market analysis in the areas of data governance, business intelligence, master data management and customer relationship management.
For more business intelligence and performance management news and advice:
- Read why self-service business intelligence tools aren't as popular as vendors would like
- Find out how interactive applications are giving open source business intelligence a boost
- Read about BJ's effort to overhaul its business intelligence capabilities
- Read about a Business Objects customer that had to redesign more than two dozen reports when upgrading to SAP
- Learn who topped Gartner's most recent business intelligence Magic Quadrant report
- Find out which type of business intelligence software buyer you are
This was first published in November 2009