RETAIL INFORMATION

SYSTEM
 RIS
Anticipates the information needs of retail
managers; collects, organizes, and stores
relevant data on a continuous basis; and
directs the flow of information to the proper
retail decision makers
RIS provides cost-effective, highly configurable
and scalable Point of Sale and Inventory Control
software solutions, to retailers worldwide. No
matter how your business grows, RIS will
partner with you to bring your business the right
tools: Store Operations, Merchandising, and
Business Intelligence, along with experienced in-
house customization services.
 IMPORTANCE
• When retailer makes new strategies or
modifies the existing ones, gathering and
reviewing information is important.
• All decision makers – require right
information to improve business
performance.
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SYSTEM\INFORMATION FLOW IN
RETAIL.png
 RETAIL STRATEGIES BASED ON
INADEQUATE INFORMATION CAN LEAD TO
DISASTERS-

1)Using Intuition.
2)Continuing what was done before.
3)Copying successful competitors strategy
4)Devising strategy by speaking to few individuals
about their own perceptions.
5)Automatically assuming that good business can
easily expand.
6)Not having good read on consumer’s perception.
 BUILDING AND USING OF
RETAIL INFORMATION SYSTEM.

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implementation and feedback.png
 FEATURES OF A GOOD RIS
• Information gathering is organized and
company focused.
• Data's are regularly gathered and stored
so that opportunities are foreseen and
crises averted.
• Strategic elements can be co ordinate.
• New strategies can be devised quickly.
• Quantitative results are accessible and
cost benefit analysis can be done.
IMPOTANT DECISIONS BEFORE
MAKING RIS
• How active it should be
• Should it be managed internally or outsourced.
• Cost
• How technology driven
• How much data are enough
• How data should be disseminated through out the
firm.
• How data should be stored for future use.
• gayerti\fddi\RETAIL INFORMATION SYSTEM\excel
one.xlsx
RIS s are being used in
surveys,ordering,merchandise transfer
between stores. Now also have
computerized financial mgt systems,
analyze sales electronically, computerized
inventory mgt systems.
Eg - retailpro
 DATA BASE MANAGEMENT
• A retailer gathers , integrates, applies and stores
information related to specific subject areas.
• It is a major element of RIS.
• May be used with customers, vendors and product
categories data base.
• A firm may compile & store data on customer
attributes and purchase behavior, compute sale
figure by vendor & records product categories.
• These datas can be used for frequent shopper
programs, customer analysis, promotion evaluation,
inventory planning, trading area analysis, joint
promotions with manufacturers, media planning and
customer communication.
STEPS FOR DATA BASE MGT
• Plan the particular data base and its
components and information needs.
• Acquire necessary information
• Retain the information in a usable accessible
format.
• Update the data base regularly to reflect
changing demographics , recent purchases and
so forth.
• Analyze the data base to determine company
strength and weakness.
Data can be ,managed by internal or external
sources, retailer can generate the same from
customers, vendors &product categories.
• By customers- purchase frequencies, items
bought, average purchase, demographics,
payment mode etc .
• By vendors-total retail purchases, customer
purchases, most popular items, profit margin,
average delivery time, service quality.
• By product category- total category sale, item
sale, margin, discount percentage.
 DATA WAREHOUSING
• Advance stage of data management is data
warehousing. Copies of all data base of a
firm are maintained in one location and
accessible to employees at any locale.
• It describes the process of defining,
populating, and using a data warehouse.
• It emphasizes the capture of data from
diverse sources for useful analysis and
access.
 COMPONENTS OF DATA
WAREHOUSING
• A data warehouse where data can be
physically stored.
• Software to copy original database and
transfer them to warehouse.
• Interactive software to process inquires.
• A directory for categories of information
kept in the warehouse.
• Benefits –
Can get all the data in one location, quick
and easy assessment and better
manipulation, reduced inconsistency in
data.
 DATA MINING &
MICROMARKETING
• Data mining is the in depth analysis of
information to gain specific insights about
customers, product categories, vendors and
so forth, its done to learn if there are
opportunities which may require tailored
marketing efforts.
• Micromarketing is an application of data
mining- where the retailer uses differentiated
marketing and develops focused retail
strategy mixes for specific customers etc
• Micromarketing relies on a special
software to sift through data warehouse to
uncover patterns and relationships among
different factors. This software allows vast
amounts of data to be quickly searched
and sorted.
 UPC & EDI
Universal product code-products marked with a series
of thick and thin vertical lines, representing each
item a identification code. May have nos and lines.
Read by electronic scanners. Retailer needs to add
a sticker or ticket specifying the color, price, size
etc of the product.
Electronic data interchange-retailers and suppliers
exchange their data regarding inventory level,
delivery times, unit sales etc. it enhances their
decision making capabilities, gives better inventory
control and are more responsive to demand.
 MARKETING RESEARCH
PROCESS
• Some firms may take it as one part of RIS,
others may consider it type of data
gathering and processing.
• Has a series of activities.
• MARKETING RESEARCH.png
• Secondary data is gathered for purposes
other than addressing the issues or
problem currently under study. may be
internal e.g. co’s record or external such
as Govt’s records etc.
• Primary data are collected to address the
specific issue or problem under study
done with the method of
surveys,observations,experiments and
simulations.
• Primary data's are yielded only when
secondary data does not yields results.