OTTO Wins BT Retail Week Technology Award with Blue Yonder
June 13th, 2014 – OTTO, the largest online retailer for end-consumer fashion and lifestyle in Germany, and Blue Yonder, a leading provider of Predictive Analytics, are/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.
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“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.
The single company OTTO has its headquarters in Hamburg and employs around 4,350 people at its Hamburg location. Sales in the 2013/14 financial year amounted to 2.27 billion euros. OTTO now generates over 80 per cent of total sales through otto.de and additional specialist online shops. Part of the Otto Group, OTTO is the largest online retailer for end-consumer fashion and lifestyle in Germany, and the second-largest B2C online retailer altogether.
Werner Otto founded the OTTO company in 1949 and it is still under family ownership today. Dr Michael Otto, son of the company founder and for many years Chairman of the Executive Board, has developed the Otto-Versand mail order company at the time into the internationally active retail and service group, Otto Group, with 123 companies in 20 countries. Today the single company OTTO is managed by the three Management Board Members: Dr Michael Heller (OTTO Management Board, Categories), Marc Opelt (OTTO Management Board, Marketing & Sales) and Petra Scharner-Wolff (OTTO Management Board, Services).
About Blue Yonder ( www.blue-yonder.com)
Blue Yonder is the leading SaaS provider for Predictive Applications in the European market. The company’s platform automates mass decisions in real time, resulting in accurate forecasts. Founded in 2008 and based in Karlsruhe, Germany, Blue Yonder provides industry-specific forecasting software that enables customers like Otto, EON and Next to optimize the key business processes and to become “predictive enterprises.” Founded by the former CERN researcher Prof. Michael Feindt, Blue Yonder has the largest team of world-class Data Scientists in Europe. Using scientifically-based and innovative technologies such as predictive modeling and machine-learning approaches, Blue Yonder helps companies to increase their profit. With its scalable and cloud-based platform, Blue Yonder delivers precise predictions for demand planning and replenishment. It is also being used for dynamic pricing and customer analytics. In January 2014, Blue Yonder launched the Data Science Academy to provide relevant expertise to businesses and to train management as well as business users and IT. Blue Yonder’s work has been recognized by many industry awards such as the 2013 FOCUS Digital Star Award and most recently, the Deutscher Innovationspreis 2014 and Retail Week Technology Awards 2014.
About Retail Week
Retail Week provides breaking news and accurate insight into the retail sectors and disciplines that matter, helping the UK retail industry make the right investment and business decisions. Subscribers access essential data, news and clear analysis through multiple channels including the weekly magazine, in-depth specialist reports and content from industry leading contributors; via an interactive retail database; and through unrivalled access, networking and celebration at Retail Week’s essential face-to-face business events and Awards. With 47 of the top 50 UK retailers as customers, Retail Week is at the centre of UK retail and both reflects and champions the industry. Its invaluable content guides businesses through the myriad of challenges in today’s retail environment. Retail Week, the UK’s number one retail brand, is powered by EMAP. www.retailweek.com