|By Business Wire||
|January 13, 2014 08:05 AM EST||
NRF Convention & Expo – 1010data, Inc., a market leader in big data discovery and data sharing, today announced the release of 1010data Test Monitor™, a powerful new analytical testing application that puts the power of testing in the hands of retail, retail supplier, consumer packaged goods (CPG), restaurant and hospitality chain business users.
With 1010data Test Monitor, chains and their suppliers can easily and cost-effectively test new innovations on a small scale, learn which tests produce the best results, and make insightful decisions about how to roll out on a large scale.
“1010data Test Monitor can do in minutes what could otherwise take weeks,” said Greg Munves, Executive Vice President. “Retailers and their suppliers can now react to customer adoption in real-time and adjust rollout strategies with confidence, reducing and speeding up ROI on new concepts and products.”
The Challenge of Retail Testing
Today, many retailers struggle to conduct rigorous tests and analysis because it requires multiple technology systems and specialized resources – resources that are often already stretched thin – to construct meaningful tests. As a result, executives must make crucial decisions about major initiatives based on partial data that doesn’t differentiate between true incremental benefit and “phantom” gains that could result from chance.
Breakthrough Testing Technology
1010data Test Monitor leverages the ability of the revolutionary 1010data analytical platform as a service (APaaS) to easily harness large data volumes from multiple disparate sources and analyze it with lightning quick performance, all through an intuitive testing interface designed specifically for business users. Now, retailers can easily create tests to measure the efficacy of innovations such as:
- New pricing strategies
- Promotions, offers, and marketing campaigns
- Alternative shelf designs, store layouts, category and item assortments
- Loyalty program initiatives
- New store formats or remodeled interiors and exteriors
- And much more…
Instant, Accurate Testing for Business Users
1010data Test Monitor makes testing easy by breaking the testing process down into simple steps, and performing all the heavy analytical lifting in the background without requiring specialized training on the part of the user.
Business users simply choose the stores they want to test and the KPIs on which to measure performance. Then, 1010data Test Monitor statistically matches test stores with the control stores that serve as the best comparisons. After the test is launched, users get a clear picture of the incremental business benefits driven by their tests, and gain the insight and confidence they need to move forward with a profitable, full-scale rollout.
A New Addition to 1010data Retail Solutions
1010data Test Monitor is the latest addition to 1010data Retail Solutions which are designed to handle the toughest analytical challenges faced by large consumer-facing enterprises.
1010data Retail Solutions include the 1010data Retail Vendor Portal™, enabling the sharing of key data and analytics between retailers and their suppliers, 1010data Shelf Monitor™, created to ensure on-shelf availability of products at every store location, and 1010data Test Monitor™. 1010data Retail Solutions are built atop 1010data’s revolutionary APaaS, enabling retailers with a fully-featured, extensible, cloud-based enterprise analytics platform.
Retailers attending the NRF Convention & EXPO, January 13-14 in New York City’s Jacob Javits Convention Center are invited to visit 1010data at booth #3845 to learn more and see a demonstration.
1010data provides a unique, cloud-based platform for big data discovery and data sharing. It is used by hundreds of the world's largest retail, manufacturing, telecom, and financial services enterprises because of its proven ability to deliver actionable insight from very large amounts of data more quickly, easily, and inexpensively than any other solution.
Please visit www.1010data.com for more information.
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