Coming out of a holiday sales period in which they experienced flat-to-slightly positive sales results, profitable growth is top of mind for retailers this week at NRF 2015. OrderDynamics today announced that its retail customers report an average profit increase of 21 percent year-over-year when using Dynamic Action, its Decision Intelligence Application.
Dynamic Action helps some of the world’s leading retailers improve their omni-channel operations, including Neiman Marcus, Brooks Brothers, T.M. Lewin, Sur la Table, and is now recommending actions on more than $16B in retail revenue across the globe. In fact, OrderDynamics customer Jaeger reported online sales and business performance for the 2014 holiday sales period well above industry average and beating their own projections.
After pioneering the application of artificial intelligence to transform online commerce, Dynamic Action has now released functionality that incorporates Big Data across all online and offline channels to provide a comprehensive view and specific recommended actions for products, customers, channels and marketing, a technology category that Gartner now refers to as prescriptive analytics.
As retailers focus on removing operational siloes and driving profitability in 2015, many leading companies are utilizing the company’s Dynamic Action solution to receive detailed recommendations that drive profit across every area of a retailer’s business. Recent analyst reports confirm that OrderDynamics has not only established a new category of profit-driving technology but has set a new bar for omni-channel excellence in retail. Last month Frost & Sullivan, a leading independent analyst firm, recognized OrderDynamics with the 2014 Frost & Sullivan Award for Technology Innovation for Big Data Analytics in Retail.
In his report on the subject of Big Data Analytics in Retail, Frost & Sullivan research analyst Benjamin Gresham noted, “OrderDynamics has engineered a Big Data analytics solution for retail that is one-of-a kind in the marketplace. The ability to analyze Big Data in near real-time as it pertains to all areas of a retail business, across all storefronts—via online ecommerce or traditional brick-and-mortar—is a significant technological advancement and critical for retailers to succeed in today’s competitive landscape.”
Express, Men’s Wearhouse and Grainger are among the innovative retailers that have subscribed to Dynamic Action recently to speed profitable decision making across their businesses.
“The verdict is in on driving omni-channel profits and performance, and Dynamic Action stands alone in delivering results that improve the bottom line,” said Kevin Sterneckert, CMO, OrderDynamics. “Retail is plagued by an $800 billion data and inventory disconnect we’ve termed the ‘Ghost Economy’ of vanishing profits. Our unique ability to translate Big Data insights into profitable actions is how our customers are dispelling these ghosts.”
Retailers using other OrderDynamics products, such as House of Fraser, have also reported above average holiday results. Dynamic Action is part of the full OrderDynamics product suite that helps retailers deliver seamless commerce experiences, with additional products that include a Commerce Platform, Stores – the In-Store Point of Service Application, and an omni-channel Order Management system.
About OrderDynamics
OrderDynamics is the world’s leading Big Data prescriptive analytics software company, built for enterprise-level retail. We believe that the order is the moment of truth – when profit can be made or lost. We help the world’s leading retailers activate commerce from first interaction to final fulfillment with our Dynamic Action, Commerce Platform and Order Management solutions and services. Thought-leading research firm Frost & Sullivan recently named our Dynamic Action prescriptive analytics solution as a “Big Data analytics solution for retail that is unlike any other in the market” and “critical for retail success.” We empower agile and intelligent commerce experiences so that our more than 90 clients, operating in 33 countries, including Neiman Marcus, Brooks Brothers, Speedo, Laura Canada, T.M. Lewin and Asda Direct, win at that very moment of truth.
OrderDynamics is headquartered in London, with offices in Silicon Valley, Toronto, France, India and Bulgaria. Connect with us at www.orderdynamics.com and @OrderDynamics on Twitter.
