NRF, ARTS release proposal for BI standards

Washington, D.C. The National Retail Federation and the Association for Retail Technology Standards said Monday that it released a request for proposal for business-intelligence applications, the eighth in a series of RFPs.

A BI standard will guide retailers in leveraging information for strategic analysis, improve analysis capabilities and provide a road map of execution. The RFP, which was compiled by a committee of retailers, vendors and consultants, presents a comprehensive list of features and functions that retailers, based on experience, have found valuable in BI solutions, according to a company statement.

“BI applications remain at the top of CIOs’ priority lists, so the release of this new RFP is very timely. BI is the process of transforming raw data into useful information to improve decision-making and is absolutely essential for successful business operations,” said Richard Mader, executive director, ARTS.

The principal goal of the RFP is to help retailers develop a conceptual BI architecture that meets the immediate needs of the organization, but has the ability to expand into other business areas. It also defines an implementation road map that will address placing a BI solution into production during the current fiscal year.