Best Practice Report

Retail Foundation Data

How To Maintain And Exploit Quality Merchandise And Location Data

October 31st, 2008
George Lawrie, Vice President, Principal Analyst
George Lawrie Vice President, Principal Analyst
With contributors:
Sharyn Leaver , Varun Sedov

Summary

Given the vastly expanded choice and market transparency, retailers are becoming increasingly dependent on merchandise data to add value to their unique selling proposition. Retailers need to hone their ability to move full truckloads and to exploit new technologies, such as location-specific merchandise and price optimization. The first step is to fix their rickety foundation of data about merchandise and locations. How? Retail process and applications professionals should undertake a data quality assessment exercise to prioritize investment opportunities and establish continuous data quality monitoring and improvement processes.

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