Study: Businesses hindered by lack of reliable and consolidated data sources
New York — Poor data collection and linkage practices are leaving organizations unable to move forward with key business goals, according to a new study by Experian Data Quality, a part of Experian Marketing Services.
The report, “Finding insight through data collection and linkage,” finds that while most organizations are looking to leverage data better to drive consumer insight, they are hindered by a lack of reliable and consolidated data sources.
“While most organizations have started Big Data programs and are investing in analytics, the majority of companies still struggle to collect accurate data and link customer information across channels to develop reliable data sources,” said Thomas Schutz, senior VP and general manager for Experian Data Quality.
Experian Data Quality also found that:
• Eighty-three percent of companies have started a Big Data program.
• Ninety-four percent of companies believe their customer and prospect data might be inaccurate in some way.
• Eighty-three percent of companies struggle to link customer information across channels.
“The data-driven culture in which we operate today does not function without a foundation of data quality,” added Schutz. “Organizations need to review data collection and linkage practices to take advantage of their data sources better for insight.”
DSW Q2 sales, earnings beat estimates
Columbus, Ohio — DSW reported that its second quarter profit rose 1.8%, better than expected, with sales up across all its segments. Profit for the quarter ended Aug. 2 was $34.3 million, up from $33.7 million in the year-earlier period.
Sales rose 4.5% to $587.1 million. Same-store sales increased 0.8%. Both metrics surpassed Wall Street forecasts.
"In the quarter we accomplished our goal of achieving improvement in the underlying sales trends and eliminating any inventory imbalances. All major categories recorded improved sales performance in the second quarter compared to the first quarter. In addition, we were encouraged by the sequential improvement in sales trends as the quarter progressed," said CEO Mike MacDonald.
Brentwood Associates acquires Marshall Retail Group
Los Angeles — Brentwood Associates, a consumer-focused private equity investment firm, has acquired Marshall Retail Group, a leading specialty retailer for high-foot-traffic marketplaces with locations in major casino-hotels and airports across the United States. The company is led by CEO Michael C. Wilkins, who will continue to lead the business going forward.
Marshall provides turnkey retail solutions to premier casino resort and airport operators by creating and managing a highly scalable platform of stores, offering a broad range of 17 unique retail concepts. It operates 155 retail locations across 10 states and Washington D.C.
“Marshall Retail Group has a portfolio of proven, highly differentiated concepts,” said Rahul Aggarwal, managing director at Brentwood. “Furthermore, the company has demonstrated the ability to successfully innovate and create new retail concepts to meet its customers’ needs.”