[May 24, 2012] First Insight Cited in Gartner's Retail Handbook for Becoming Demand-Driven Tweet May 24, 2012 (Close-Up Media via COMTEX) -- First Insight, Inc. announced it was named in the "2012 Retail Handbook for Becoming Demand-Driven" by Gartner Inc. - an information technology research and advisory company. According to the Gartner Report: "Marketing departments have long had access to consumer data, such as loyalty and shopping pattern information, and that data has been used to identify potential gaps in offerings and guide product design and engineering teams to new areas. Increasingly, however, retailers are interested in tapping consumer insights throughout product design and development cycles to shape the final product. Once a product is on store shelves, it's too late to change much about it, at least until the current inventory has been sold." In a release, the company noted that the First Insight solution provides actionable inventory investment guidance on new products by applying analytic models to feedback collected from online consumer interactions. The Gartner report states: "Retailers and brands use that feedback to shape final product designs as well as make decisions about pricing, promotions and assortments that affect the success of new product launches." Furthermore, the Gartner report states that "demand-driven retailers realize 27 percent greater return on assets, 23 percent more inventory turns and 26 percent greater revenue growth than their peers." "We are honored to be named in this Gartner report," said Greg Petro, founder and CEO of First Insight. "We continue to work with our retail customers to deliver measurable gains in sales and margins. Our solution is helping struggling retailers return to growth and is helping successful retailers stay ahead of their competitors." First Insight is a solution for providing inventory investment and pricing guidance for products that are new to retail assortments. More information: www.firstinsight.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]