Using Business Intelligence for decision support
In recent years, the company experienced rapid growth, venturing into new markets and acquiring additional top brand franchises.
Customer behaviour trends are challenging to predict, especially in the constantly changing clothing retail sector. The organisations business model is focused on sports and fashion markets, which are diverse in nature.
As the company grew, senior executives were finding it harder to manage the volume of business data. Data was stored on multiple independent databases on Excel and the compiling of reports left little time for analysis. The process still led to inaccurate information and decision-making was sometimes based on guesstimates.
Business Intelligence solution comprised a data warehouse connected to multiple sources of data from points of sale, inventory systems, footfall, excel and other inputs. The Panorama Necto was deployed as the visualisation tool to create dashboards and infographics.
The BI solution provided a sound analytical management tool to visualise sales, profitability, and inventory for the diverse, multi-store operation across several countries.
The ability to review dashboards daily, revealing updated results and operational performance, has enabled the organisation to gain full visibility of operations and sales and providing valuable, actionable data. They company also established KPIs and used automated alerting, allowing for a proactive approach in identifying and addresses underperforming business areas.
With Business Intelligence, the company is now able to access updated dashboards instantly and use them during management meetings which have evolved into forums for decision-making. Data is analysed instantly, issues are raised and discussed. With a full view of each brand or outlet, executives are able to understand the business or activity in greater depth, revealing insights on optimal inventory, efficiency optimisation or opportunities to improve margins and contribution.
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