STORIS Introduces Business Intelligence

The pandemic has demonstrated how quickly and dramatically the retail environment can change, revealing the importance of real-time analytical tools and strategic data management to better understand current operating requirements.

Addressing this need, STORIS is introducing a new Strategic Business Intelligence program to further support retailers in their analytical initiatives as they navigate the changing retail market. STORIS will provide a special introductory offer for retailers to get started through April 30, 2021.

Combining STORIS BI and data warehouse technologies

Strategic Business Intelligence is an inclusive solution providing STORIS BI and Data Warehouse technologies, with a growing library of out-of-the-box reports and technical data consulting services.

Business Intelligence ideally encompasses all aspects of an organization and as a result, it can be overwhelming for retailers to determine where to begin. STORIS’ new Technical Data Consulting Services give retailers  the support of an expert data technician to implement custom reports, data sets and metrics for each retailer.

An Econsultantcy report observes, “2020 exposed for many the lack of critical foundations in place for data strategies. Some businesses that needed to get on top of leading indicators as markets were disrupted quickly found that accurate and consistent data were either not in place or easily accessible at the right levels of decision making. For many, this has pushed data strategy to the top of the agenda for 2021.”

Data Consulting Services are important for adopting a Business Intelligence mindset

As STORIS BI expert Emily Polansky-Lone explains, “the first step in our program, Discovery, guides the retailer through defining strategic reporting priorities and identifying data sets and KPIs used to measure success. These consulting services instill a deep understanding of STORIS’ BI solutions and the capabilities of BI to empower the retailer’s operations.”

Access predefined reports

Additionally, access to a library of 20 pre-defined, real-time reports provides retailers with out-of-the-box analytical tools. Examples include Current Inventory Status and Inventory Forecasting reports which each feature a composition of related charts, dashboards, and visualizations. All of these reports were designed by STORIS’ data technicians with industry expertise.

Jason Schneiderman, President and Owner of Schneiderman’s Furniture, spoke of their experience,

“Schneiderman’s has recently added key new reports that have helped our company analyze data at a much faster rate than ever before. We were especially impressed with the support from the STORIS team to help customize the reports that worked for our business’ needs. We could not be happier with the results."

Ultimately, the Strategic Business Intelligence Program aims to leverage the power of STORIS’ 450+ retailer community. Each new report that is designed as a result of the Technical Data Consulting Services will be published to a growing library of available reports for all STORIS partners to take advantage of. Each retailer in the program will contribute to the available BI reports and also benefit from the contributions of every other retailer in the program. Final reports can be scheduled for routine distribution to relevant stakeholders.