Published on 10 January, 2008
March NetworksTM, a leading provider of intelligent IP video and business analysis applications, announced recently that the retail arm of a global consumer products organization is using the company's data analytics software in more than 150 US retail stores for advanced loss prevention.
The organization, which operates nearly 500 retail locations worldwide, selected the March Networks LP Data Mining software suite to help reduce inventory shrinkage and improve overall store performance. Leading sources of inventory shrinkage include employee theft, shoplifting and cashier error, and cost U.S. retailers an estimated $42 billion each year.
The LP Data Mining solution includes fully customizable point-of-sale transaction profiling, user-friendly investigation and reporting tools, and digital video integration. It enables the organization's loss prevention professionals to efficiently identify and confirm fraudulent activity and patterns of theft with features such as gift card and employee purchase/return tracking.
Following an extensive evaluation of vendor offerings, the retail organization selected the March Networks solution to replace existing, competitive software. The LP Data Mining suite delivered more advanced query and customization capabilities, as well as seamless integration with shipping and other business system data.
"Our sophisticated data mining and video management applications provide the operational intelligence organizations are seeking to reduce shrinkage and enhance business performance in a highly-competitive retail environment," said Peter Strom, President and CEO, March Networks. "We are pleased to have been selected as the platform of choice by this global brand and look forward to expanding our presence in multiple retail spaces throughout 2008."