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1010data Puts the Power of Control Store Testing in the Hands of Retail Business Users
|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
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
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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