Majority of retailers dont have the business intelligence to survive a recession.

This article is brought to you by Retail Technology Review: Majority of retailers dont have the business intelligence to survive a recession..

New research by specialist retail intelligence provider Manthan Systems reveals that nine out of ten (91%) retailers believe reacting quickly to industry trends is critical during a downturn, and 87% think comprehensive and up-to-date business information is vital during economic uncertainty. Despite this, over a third (37%) of respondents do not have any kind of business reporting system and those that do are still unable to access the appropriate business information when they need it.

The research, Retail Intelligence, which surveyed 192 retailers of all sizes, was designed to establish their views on the use of business intelligence, especially in the current market. Strikingly, one in five (17.6%) of respondents from the largest retailers (more than 5,000 employees) questioned do not have access to any type of retail intelligence system. This could indicate that while business intelligence systems are being implemented, they are not being done so on a company-wide basis, meaning only certain departments have access to business intelligence information.

Interestingly, in light of the fact that reacting quickly is seen as paramount, when rating the quality of their existing business intelligence reporting, only half (53%) of those surveyed can access reports when required, and a significant 49% are unimpressed with the response time of their business reports. Furthermore, four out of ten (39%) retailers were unconvinced of their ability to identify problem areas, and over half (55%) are subsequently unable to drill down into problem areas.

Steve Barker, head of UK operations, Manthan Systems explains: These are extremely significant findings. Now more than ever retailers need to react quickly and make important decisions to minimise the risk of the recession that lies ahead. Being informed with precision intelligence can greatly reduce risk and maximise profitability.

It is surprising that so many retailers dont have any kind of business intelligence systems, especially the largest chains. Perhaps more surprising is that a high number of those retailers that have invested in reporting systems are still unable to access vital customer and sales information that could give them a competitive edge at a time when they need it most!

For a full copy of the report please visit http://www.manthansystems.com/uk_survey_direct.html

About Manthan Systems

Manthan Systems is a leading provider of specialised software solutions to the retail and consumer goods industries. Manthan Systems provides insight and innovation to help retailers capture and progress data that can be leveraged to improve planning, monitor results, analyse and anticipate changes, and mine opportunities.

Manthan Systems draws expertise from high-profile customers across the whole retail sector. For more information about Manthan Systems, please visit www.manthansystems.com