LossManager helps Jaeger to boost profits - Mon, 01/12/2008 - 10:57am

A data-mining tool from IDM Software claims to have helped premium British fashion retailer Jaeger identify significant profit potential in just three-months. By merging EPOS transaction information with other more complex data streams, LossManager has enabled the retailer to gain an insight into fraudulent staff activity as well as numerous internal procedural issues, delivering significant savings and boosting the company's bottom line along the way.

LossManager was selected by Jaeger for its ability to merge complex and disparate sets of data, stretching the limits of data mining beyond the traditional realms of possibility. Steve Hearn, Head of Safety and Security for Jaeger comments:

"LossManager has been up and running for three months now and it has already triggered many interesting and somewhat unexpected lines of enquiry that certainly would not have been ‘visible' before. 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.

"The fact that LossManager delivers a holistic, business-wide view of data and process risk as well as obviously fraudulent activity is key for us. 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 return on investment (ROI) calculations run at inception."