Data mining boosts Jaeger profits

The British fashion retailer has achieved a return on its investment three months after installing new loss prevention data mining software.

British fashion retailer Jaeger has used a new data-mining tool to achieve a return on investment (ROI) in just three months.

The company installed the IDM Software tool to identify potential fraudulent staff activity and internal procedural issues in its stores by merging and analysing electronic point-of-sale (EPOS) transaction information alongside other, more complex data streams.

Advertisement - Article continues below

Steve Hearn, Jaeger head of safety and security, said the tool had already triggered interesting and unexpected lines of enquiry that would not have been visible before.

"LossManager has been up and running for three months now and, not only have we uncovered fraudulent activity, but we have also identified numerous procedural issues that in the current economic climate, make a significant yet wholly unnecessary impact on the bottom line."

Hearn said the Jaeger audit team had obtained business-wide view of data and process risk as well as obviously fraudulent activity.

"The audit team have taken custody of the day-to-day management of data mining and have already driven significant savings and identified huge profit improvement potential well beyond any ROI calculations run at inception," he added.

Jaeger worked with the vendor to fully integrate the new tool with its complex data streams, including EPOS transaction, electronic article surveillance (EAS) and CCTV data.

Featured Resources

Top 5 challenges of migrating applications to the cloud

Explore how VMware Cloud on AWS helps to address common cloud migration challenges

Download now

3 reasons why now is the time to rethink your network

Changing requirements call for new solutions

Download now

All-flash buyer’s guide

Tips for evaluating Solid-State Arrays

Download now

Enabling enterprise machine and deep learning with intelligent storage

The power of AI can only be realised through efficient and performant delivery of data

Download now
Advertisement

Recommended

Visit/strategy/28185/what-is-data-mining
Business strategy

What is data and big data mining? An easy guide

22 Aug 2019

Most Popular

Visit/infrastructure/server-storage/355118/hpe-warns-of-critical-bug-that-destroys-ssds-after-40000-hours
Server & storage

HPE warns of 'critical' bug that destroys SSDs after 40,000 hours

26 Mar 2020
Visit/software/355113/companies-offering-free-software-to-fight-covid-19
Software

These are the companies offering free software during the coronavirus crisis

25 Mar 2020
Visit/software/video-conferencing/355138/zoom-beaming-ios-user-data-to-facebook-for-targeted-ads
video conferencing

Zoom beams iOS user data to Facebook for targeted ads

27 Mar 2020
Visit/cloud/355098/ibm-dedicates-supercomputing-power-to-coronavirus-researchers
high-performance computing (HPC)

IBM dedicates supercomputing power to coronavirus research

24 Mar 2020