In the retail sector, there lies an invaluable source of dormant information and intelligence, hidden under reams of data being entered into the transactional software. Businesses, especially in the SME sector, do not have affordable tools to create 'Predictive Insights' and harness 'Actionable Intelligence' from the huge amount of transactional data that is being captured across their business.

Understanding the needs of the SME segment and the need for software, which aids them in creating predictive insights, BIRetail – a company providing IT Solutions – has announced the launch of its new Business Intelligence (BI) software – called BIRetail, specially designed for the Retail Industry.

To counter the ‘price barrier’ for adoption of BI solutions, BIRetail is offering its software via the Software-as-a-Service (SaaS) model. Thus, the software is available on a cost-effective ‘subscription’ model, removing the need to buy expensive software licences, and thus making it highly affordable.

As it is specifically tailored for retailers, the package comes as a ready solution with relevant reports, charts, informative pre-built KPIs, and is further customisable too.

Typical BI implementations can take six to 12 months to go live. However, BIRetail reduces the cycle to as low as four weeks as per company claims. The software is available at an affordable price, thus, allowing small/ medium retailers to harness the power of Data Analytics in their respective businesses. In spite of being inclusive of an advanced application like Data Analytics, BIRetail offers ease of use, allowing non-IT people to harness the power of data, with no prior training.

BIRetail is built using a Business Intelligence platform called MicroStrategy, which is among the innovators in Data Analytics. Further, BIRetail uses Microsoft’s SQL Server Integration Services to carry out the data extraction efficiently. Thus, the reliability of data extraction, computing and report delivery is well-established. Besides the SaaS delivery model, BIRetail is also available in the conventional on-premise software delivery model.

BIRetail is a 'licence-free' interactive reporting and analytical tool compatible with any Point-of-Sale software, which assists retailers in exercising better control over their operations. Using this solution, retailers can optimise inventory costs; maximise earnings through visual profitability analysis reporting; increase sales by improved customer recognition; and get better mileage for merchandise spends, with better product behaviour patterns.

Niraj Jaipuria, director, Regional Sales-Asia Pacific, BIRetail, said, "Technology plays an important role in supporting the backbone of the retail businesses. However, technology is best put to use, when it is within reach of the target group. We recognise the need for data analytics to find hidden answers that could help improve sales, optimise inventory, and understand customer and product behaviour patterns. Being sensitive to the ‘price barrier’, especially for SMEs, BIRetail was evolved on the 'on-demand' model, which allows one to tailor the price of the solution as per one’s usage."