Business intelligence conquers smaller retail chains too

By: trademagazin Date: 2014. 08. 21. 10:46

When the fist retail systems came out it was important to have a precise stock inventory and to compare the latest information with earlier data. Based on these analyses and statistics were prepared for store managers – we learned from Ferenc Végh, managing director of ProgAdat Kft., a member of the Laurel Group. He pointed out that the essence of business intelligence systems is that that they specify correlations and data connections that reveal trends such as which products customers usually buy together. Laurel is a leading developer of IT systems for the retail sector and an expert of business intelligence. Store managers use business intelligence systems to find out how demand changes for products and to gather information about customers. Having this kind of information helps them schedule and target promotions better, and also makes it easier for them to find those points where it is necessary to implement changes; what is more, they can even model these changes using the system before implementing them. Smaller, 5-10 store chains are also starting to discover the advantages of business intelligence systems. In the store of the future when customers enter and identify themselves in the loyalty system they will receive customised offers instantly.

Related news