24.08.2018 by Johnny Custer
As data storage technology improves – seemingly every day – retailers having “enough” data isn’t a problem anymore. In fact, most companies already have (not only) a significant data pool, but also a large variety of business intelligence tools/programs with which to harness it. From Business Intelligence tools, to Exception Based Reporting platforms, and countless other programs … there are no shortage of “big data” solution offerings.
Unfortunately, these tools often don’t communicate with each other; resulting in silo’d information and pigeon-holed functionality, as well as an over-abundance of redundancy, reports, and lack of prioritization.
Don’t get me wrong, having lots of tools is undoubtedly “fun” for your analysts and other the data-heads within your organization (we do love our toys); but not so much fun for those in the field trying to make sense of the mountains of reports and information being dumped on them.
So how many solutions is too many? The answer is probably: any more than ONE.
With more than one tool, are you able to take a holistic “4-wall” view of data, across every location within your business, and cohesively leverage it to drive measurable results to your P&L?
Even if the answer is yes, there are still more questions. What data should be targeted? Is it actionable? Where does it all reside? Who has access to it? What should really be focused on first? And most importantly: How will bottom line impact be achieved and measured?
…to be continued