Retail is a fiercely competitive market, margins are tight and consumers now have instant access to competitive prices at the touch of a button.
In order to thrive retailers need insights into consumer behaviour and trends, so that they can make smart merchandising decisions, boost profitability and control costs.
Many retailers are now looking to invest in solutions which align innovation with business strategy and help them to maintain a competitive edge.
IBM Cognos software helps organisations access reliable, timely data that helps decision makers make informed and intelligent choices, which provide reliable answers to three fundamental questions:
- How are we doing? – Staying on-track to meet targets with visibility into any aspect of your business performance.
- Why? – Putting results and decisions into context by analysing trends and patterns.
- What should we be doing? – Allocating human and financial resources more effectively using driver-based plans and rolling forecasts.
Once these questions can be confidently answered businesses can embark on an information-led transformation.
With trusted, accurate and timely information to the right decision makers at the right time, organisations can improve service levels, gain visibility into revenue and profitability performance, control costs and improve supply chain management.