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The results of the survey conducted in Russian retail sector show that Business Intelligence systems help retailers to make business decisions, having a huge potential for development.
Qlik Company (NASDAQ: QLIK), a leading developer of BI systems for end users, has announced the results of a survey conducted in August and September of 2014 in cooperation with Retail.ru portal.
Both the owners of small retail chains and ‘giants’ of the sector with more than 500 stores took part in the survey.
The survey showed, that the vast majority of the companies, who implemented BI systems, had chosen them to increase speed and effectiveness of decision-making processes — 88% of the interviewed confirmed that.
72% indicated increase in productivity as one of the reasons to implement a BI system, and 65% pointed out the necessity to integrate diverse data sources to get the ‘single version of the truth’.
When choosing a BI system, in the first place, retailers are looking for speed and simplicity of reports formation (66%), possibility to work with great volumes of data (59%) and intuitive and interactive visualization (48%).
BI systems are most widely used for analyzing sales, financial indicators, purchasing and inventory, marketing, and the main users of such systems are mostly middle management and top management, and also ordinary employees and owners.
With relation to the effectiveness of the systems’ implementations, those interviewed mention the following results: 70% — reduction of time needed to get the necessary data to make a business decision; 56% — increase in effectiveness and efficiency of management decision-making; 48% — increase in speed and simplicity of reports formation; and 24% — raise in the quality of control over sales outlets.
In general, the survey showed the steady interest of majority of retailers towards BI systems, and this interest is supported by positive impressions shared by the companies who have already implemented BI. In the future, under the conditions of unstable market and different adverse factors and also growing competition, the demand for BI systems will become more and more prominent, as they allow to instantly react to any changes in the environment and make the right choices.