New trends in Retail Analytics offer scientific ways to reach the best business outcomes
Business Intelligence has traditionally fulfilled the enterprise need for information. But, information that is not accompanied by best-outcome actions is just another process in your organization – with little impact on your bottom-line.
To be an effective business tool and help you gain competitive advantage, information has to necessarily translate into the right actions actions that optimize opportunities, leverage customer loyalty and reverse business set-backs.
And this has been the challenge with traditional BI it has provided you with a wealth of information without telling you what best you can do with it. In effect, it failed to close the loop between information and best-outcome action.
So your organization may have invested in the most comprehensive BI system offering you real-time data updates and accurate business insights, but with no guidance on what actions to follow-through with, you miss the mark in making it to the next level of business performance.