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Retailers are not only implementing advanced demand-forecasting tools, but are increasingly using retail demand intelligence (RDI) as a foundational retail technology, tightly integrated with planning systems, supply chain applications and customer selling systems, according to a new study by Framingham, Mass.-based IDC Retail Insights.
The study, “Vendor Assessment: Retail Demand Intelligence Vendor Maturity,” provides an analysis of the vendor landscape for RDI solutions. “Retailers need a single platform that drives planning across business functions,” said Leslie Hand, research director, IDC Retail Insights. “Without this, they lack a single version of the truth, and planning processes are disconnected. Technology, in the form of integrated planning applications, is now available that can help retailers improve top-line and bottom-line results.”
According to the study, demand trends change rapidly, and consumers expect companies to be always up to date and ready to deliver whatever they want in the shortest amount of time. Acting in sync with reactive business intelligence, predictive RDI can give retailers the ability to act on shifting demand trends as they happen. RDI platforms are often the foundation that enables retailers to achieve the business objectives driving their most important initiatives, the study found.
Globally, spending estimates for demand intelligence and analytics applications are projected to grow by 12.9 percent year over year, the report reveals. Additionally, U.S.-based retailers have a head start on their European competitors in demand forecasting and optimization.
“Each retailer will have specific requirements, so it is important to take the next step in evaluating the offerings in relation to a retailer’s specific need,” said Ivano Ortis, EMEA research director at IDC Retail Insights. “This typically involves business scenario-based vendor assessments -- in other words, assessing how the vendor solution matches specific scenarios that are relevant for your organization.”
The report provides assessments of RDI vendor solutions within key evaluation metrics. It evaluates 14 vendors on their ability to provide an RDI platform that drives customer-centric precision retailing, and was designed to help retailers as they launch their own exploratory or selection processes.
The following vendors are included in the study: Aldata, Cegid, Demandtec, Epicor, Galleria, Generix, JDA, KSS, Oracle, Quantum Retail, Retalix, Revionics, SAF and SAS.
Qualified retailers can receive a complimentary copy of the report by contacting Rob Weber at [email protected].
IDC analysts will also present a complimentary Web conference on the study’s findings. For more information and to register, visit www.idc-ri.com and click on the “Events” tab.