Data Without Action Is Just Trivia

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Data Without Action Is Just Trivia

By Tim Denman - 03/18/2015
The retail industry is all aflutter over the power of big data analytics and the endless possibilities a holistic view of the enterprise and shopper behavior provides. However, all of the insight in the world will have zero effect if action is not taken — it is not just about the data, it is what you do with it.
 
At the Retail and Consumer Goods Analytics Summit, Steve Schnur, director of merchandise planning and analytics at MGM Resorts International will share the company's retail division's strategy to leverage business intelligence in daily operations. MGM Resorts International Retail sells everything from Rolex to Rolaids in 150 stores in 15 casinos in the U.S. Its consumers range from high rollers at Bellagio to guests at the family-friendly Circus Circus. To understand each of these customer segments and drive sales and profits on 250,000 SKUs, the company developed a strategy to leverage business intelligence in daily operations for greater control over the volume and velocity of data and the distillation of valuable insights into actionable decision-making.
 
In his pivotal role at MGM Resorts, Schnur's innovative business intelligence model supports improved decision making across the entire retail enterprise — from buyers, to accounting and finance, to executive leadership. He has 40 years of combined experience in the hospitality and retail industries, crafting strategies to mine data and apply analytics to ensure the right merchandise is offered at the right price to consumers with varying demographics and demands.
 
The 2015 Retail and Consumer Goods Analytics Summit will be held April 29-May 1 at The Drake Hotel, Chicago, Illinois. The conference will feature keynotes from retail and consumer goods leaders, peer-to-peer exchanges, networking opportunities and relationship building. For more information, to view the full agenda, or to register for the event click here.