Press Release: OTTO, the largest online retailer for end-consumer fashion and lifestyle in
Germany, and Blue Yonder, a leading provider of Predictive Analytics, were named winner of the Best
Customer Insight Project category at the BT Retail Week Technology Awards in the UK.
The project, titled ‘Closed Loop – system-based decisions throughout the product lifecycle with Predictive
Analytics and Big Data’, focused on the need for sales forecasts to evolve beyond traditional ‘static’
processes.
“We are thrilled to be the recipient of such a prestigious award in the retail industry especially
considering the notable competition that we stood up to,” said Michael Sinn, Director of Supply and
Category Management Support, OTTO. “As an early adopter of using Big Data techniques in the retail
environment our business has made great progress as a result. We look forward to continuing our
award-winning and trendsetting relationship with the team at Blue Yonder.”
With Blue Yonder’s Predictive Analytics technology, OTTO is paving the way when it comes to using Big
Data to improve customer insights in the retail sector. The collaboration not only highlights the
importance of accurate forecasting but also underlines the value of converting data into meaningful
predictions about future trends that will meet current customer demand. A classical win-win-situation
since this increases the business performance as well as the customer satisfaction.
“This is a major achievement for Blue Yonder to be recognised amongst so many of our industry peers,”
added Rakesh Harji, UK Managing Director, Blue Yonder. “Accurate forecasting that gives retailers the
power to predict future customer needs and purchasing habits is becoming critical in a multichannel
world. For our Predictive Analytics technology to be selected as leader in this field is a huge
accomplishment for all involved in the OTTO Closed Loop project.”
The awards were celebrated at the Hilton Hotel, Park Lane, London on 11 June 2014. Run by Retail
Week and judged by retailers, the BT Retail Week Technology Awards are designed to showcase the
way in which cutting edge technology is shaping retail, improving the customer experience and driving
profits.
The shortlisted retailers, chosen from an impressive number of high-standard entries, were reviewed by
an esteemed jury, made up of influential figures and experts from retail. These included:
Graham Benson, CIO, M&M Direct
John Bovill, IT and E-commerce Director, Monsoon/Accessorize
Peter Fredrico, CIO, The Travel Corporation
Andy Harding, Executive Director, House of Fraser
Ruth Spencer, Director of Digital and Loyalty, Boots
Paul Coby, IT Director, John Lewis
Mike McNamara, CIO, Tesco
Chris Brook-Carter, editor-in-chief, Retail Week, commented: “Innovation is the life-blood of the British
retail industry, driven by the huge advances in technology we are seeing. A constant drive by retailers to
use technology to improve the customer experience, increase convenience and solve problems is critical
to maintaining UK retail’s success as a world-leader, and in continuing to create jobs and contribute
billions to the economy every year. On behalf of Retail Week, I’d like to congratulate all our deserving
winners on their outstanding achievements and for helping to shape the future of the great British retail
industry.”
A full list of BT Retail Week Technology Award winners can be found here.
(Image credit: Flickr)
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