Oracle (NASDAQ: ORCL) has expanded its business intelligence portfolio with the release of a new analytics application for the retail sector.
Part of the Retail Analytics product family, Oracle Retail Merchandising Analytics is a prebuilt business intelligence application that incorporates performance metrics across the entire enterprise and provides insight into retail industry performance indicators such as item sales, store performance, efficacy of promotions and markdowns, inventory turn, sales and profit trends, and current and potential out-of-stocks.
The prebuilt nature of the solution, according to Oracle, helps customers achieve fast time to value by reducing deployment time and helping to lower overall total cost of ownership. Through Oracle Business Intelligence, it can deliver reports in different formats on desktops and mobile devices, enabled by the application's use of Oracle Business Intelligence Enterprise Edition (OBIEE).
"As competition accelerates across mobile, e-commerce and retail channels, retailers require business intelligence solutions that address their unique challenges, out of the box," said David Dorf, senior director of product strategy for Oracle Retail. "Oracle Retail Analytics deliver the best of our retail industry expertise combined with Oracle's best-in-class technology to help customers better analyze the deluge of data generated across all channels."
Oracle Retail Merchandising Analytics uses Oracle Business Intelligence Applications to access and analyze data from multiple applications such as financial and workforce management, customer relationship management (CRM) and retail operations. It features the ability to act on those insights, enabling users to order more stock, reallocate merchandise or kick off a promotion triggered by metric thresholds.
Oracle Retail Merchandising Analytics is currently available and includes packaged integration with the Oracle Retail Merchandising product family and relevant analytics. Oracle also said it plans to expand the Oracle Retail Analytics family of next-generation business intelligence applications to address areas to meet emerging customer needs.