10 keys to a successful business intelligence strategy

NordstromвЂ™s loyalty program has always been a hallmark of its business-contributing 51% of sales-but the beauty of the program is how it evolves with changing trends. The new approach to metrics creates a holistic view. Measuring data from a legacy store view isnвЂ™t as effective as looking at the big picture metrics of its two brands, Nordstrom and Nordstrom Rack. The system provides an accurate view of whatвЂ™s in stock and makes it possible for customers to quickly find have their desired items.ДЄs Nordstrom takes a more modern business approach, it has switched to using metrics that are relevant for modern customers. The website and app are both integrated with an inventory management system that allows customers to easily find what theyвЂ™re looking for. NordstromвЂ™s goal is to create a seamless experience no matter if customers are in store or online. Once proven with customers, the ideas are expanded to other stores. The Seattle-based store is where Nordstrom experiments with new ideas and services, like buying online and picking up in store and curbside pickup. Nordstrom tests new innovations and builds customer relationships in its Experience Concept Store. It also opened targeted stores, including a huge, tech-savvy women-only store that will soon open across the street from a men-only store in New York.ДҐ. The store has started adding more outside doors to its mall locations so customers can come directly in the store. Nordstrom targets luxury customers, many of whom donвЂ™t like shopping in malls. Customers can order items online and can pick them up and have them tailored at local stores, which breaks down the walls between online and in-store shopping. Nordstrom has Nordstrom Local stores that donвЂ™t have any inventory but instead feature juice bars, nail salons, seamstresses and fitting rooms for online orders. Modern customers often prefer to shop online, but they still want to experience the brand.

Revamping the website means not only adding more items but also making it easier for customers to search for what they want. It also launched an e-commerce site for Nordstrom Rack in 2014 to sell its outlet and discontinued items. Nordstrom has spent the last few years expanding its online offerings and has tripled the number of items on since 2011.

10 keys to a successful business intelligence strategy