Retailers' Top Data Priorities
Business analytics software provider Looker released some interesting insights on the top data priorities for retailers ahead of planning for the 2014 holiday season.
Highlights from the poll of retailers attending Chicago's Big Data & Analytics for Retail Summit, include:
- 66 percent believe the number one way to ensure a successful holiday season is to understand customer behavior to drive sales and build loyalty
- Four in 10 retailers feel they are still ineffective when it comes to using data to improve business performance
Looker also examined the top challenges facing retailers when it comes to business intelligence include ad-hoc reporting requests, inability to collaborate across the business to uncover insights, disjointed data and standardized reports that don't allow the full analysis of data.
"With Looker, we're no longer inundating our analysts with ad hoc report requests. Anyone can share reports on the fly. From our customer service representatives to our development team, product managers and C-level executives, Looker is used company-wide," said Haleemur Ali, business intelligence specialist at Frank & Oak, an online men's retailer. "We now have a BI platform that has greater flexibility for data models, allowing non-technical users the ability to poke around, explore the data and uncover insights to understand customer behavior and ultimately increase revenue."
Looker currently works with leading retail brands including Gilt, Warby Parker, ThredUp, and others, representing many top retailers that collectively generate over $3 billion in annual revenue.
Screenshot of the Looker dashboard below....