For most retailers, gone are the days when data was stored in silos with multiple versions of Excel. Today, sources of data are centralized and can be pulled for reporting across channels and organizational areas. These include stores, online, mobile apps, email, loyalty, customer support, social media, reviews and third-party sources. Overwhelming, to be sure!
Data sources have increased, decisions are being made quicker than ever before, and information technology (IT) can no longer support the full business organization with reporting. Having common key performance indicators (KPIs) across the organization helps keep everyone sane, but there are still multiple ways to slice and dice the data. There is not a one-size-fits-all answer as it depends on the particular retail business and volume of its data.
Author: Paula Levy