Business Intelligence Tools Deliver Consumer Insight and Demand Forecast at New Levels of Detail and Accuracy
Atlanta, June 28, 2012 – Data Profits (www.data-profits.com), developer of the iKIS™ solution which delivers demand forecasting, inventory management, and collaboration tools to leading wholesalers/distributors, suppliers, and mid-tier retailers, announced today a recent installation in a top 100 consumer electronics retailer which resulted in improved forecast accuracy from 16.9 percent to 98.2 percent with return on investment realized in the first 60 days.
“In today’s world of technology savvy consumers and big data, retailers must find an efficient way to merge business intelligence, forecasting and customer insight into usable information that creates results. Our recent success showcases the return on investment our iKIS solution provides by translating the retailer’s big data into consumer insights,” said Stuart Dunkin, CEO of Data Profits. “Unlike legacy systems in the market that have simply upgraded to a web interface, our software is built to work online, analyze the huge amounts of customer data at high speeds and translate the analysis into consumer insight – demand forecast. As you can see in the recent example, this provides a very accurate demand forecast.”
Consumer electronics retailers inventory mix changes by at least 30% on a monthly basis. This intense level of product swapping creates an inventory challenge. The key differentiators that make Data Profits attractive are its demand forecasting software with collaboration tools and its Market Trend Indicator, which is critical for the consumer electronics sector. While nearly every demand forecasting and planning software vendor has seasonality trending mechanisms, Data Profits is the only BI software that provides its clients the ability to watch and predict market dynamics.
BI Analytics Improve Demand Forecast Accuracy
By merging business intelligence (BI) analytics, demand forecast and planning tools with vendor and buyer collaboration, iKIS provides clear, accurate, and extensive knowledge of consumer buying habits. This knowledge allows retailers to reduce inventories but stay in-stock with the right products at the right location, delivering increased sales for Data Profits’ customers.
About Data Profits:
Data Profits, Inc. developed iKIS, “Internet’s Keeping Inventory Simple”, a suite of solutions delivered via Software as a Service (SaaS). Data Profits’ iKIS provides the first collaborative-based, industry-wide view of the retail supply chain for the thousands of mid-market wholesalers and retailers with annual sales of $50 million to $15 billion. iKIS solutions provide unified demand forecasting, inventory replenishment, inventory optimization, purchase order management, demand planning, allocation, custom alerts and messaging in a user customizable format. Data Profits’ vision enables customers to find profit in their data by tightening the unwieldy supply chain. The cloud-based software sits on top of existing legacy systems, saving retailers considerable time and money with their rapid results of 30 days installation and 90 days ROI. At 1/10th the cost of competing software and no hardware cost, the ROI provides unique opportunities for each customer to ‘Tighten the Links in their Chain™.’
For More Information:
Deanna Anderson, APR
Ph# (404) 759-1890