Space NK-led by entrepreneur Nicky Kinnaird-which champions cult products in skin care, fragrance, cosmetics and body, is on a mission to capitalise on the popularity of its brand. It has adopted a new business intelligence solution from K3 Retail that analyses trading data, to better understand where to focus its merchandising and promotional efforts both on-line and in store.
Anthony Baldwin, IT Manager at Space NK, comments: "Our previous business reporting solution was not only unreliable, but it did not provide the scalability we required when it came to batch processing. K3 Retail's solution does offer this, whilst also enabling us to dynamically query sales to maximise business opportunities and allowing us to publish one authoritative version of the truth throughout the entire company."
The plug-and-play solution will be used at all levels of the company - including in the merchandising, marketing and finance departments, and in the DC which will analyse data to gain a greater insight into their side of the business. The data structure is now built directly into the solution.
John Little, Sales Director at K3 Retail, comments: "By utilising business intelligence and analysing specific aspects of their operation, Space NK can find out exactly what is and isn't selling, along with store and product information, like-for-like sales comparisons, store performance, and practically any other area that they wish to review."