EnsembleIQ Launches Retail Technology Innovation Index

Retail Business Intelligence firm EnsembleIQ has rolled out a benchmarking platform for suppliers of technology solutions for the retail industry.

Formed by a merger in 2016, EnsembleIQ is a portfolio company of private equity investor RFE Investment Partners, and works for retailers, consumer goods manufacturers, technology vendors, marketing agencies and retail service providers. Former Kantar Exec David Shanker (pictured) joined the firm as CEO in February, replacing Peter Hoyt, who retired from the business last August.

The new Retail Technology Innovation Index makes use of several of the company's existing media and research products and services, and offers a 12-factor, 0-to-100 point index of the retail industry's most innovative technology companies. The twelve KPIs measured can be grouped under four main headings: Product, Performance, Ecosystem and Organization. More than 450 'meticulously selected companies' are assessed and the top 75 are included in the Index - this will be expanded to 100 in 2019.

Ensemble says the service should help retailers to decide 'which technology companies they invest their time and effort in to rollout customer and business innovation initiatives'. The Index will be updated quarterly and whilst 'not a ranking', will provide 'innovation metrics associated with each company identified, researched and scored across key criteria'.

According to Shanker: 'Retailers are embracing technology to improve the customer experience and transform their business operations. Our experience tells us that retailers who want to stay relevant need to make a real commitment in technology investments that develop fully connected, engaging customer experiences. Looking beyond simply driving down cost is becoming more important for retailers. We are delighted to be able to provide our clients with access to this important information through our Innovation Index, thereby enabling them to make better investment decisions and more strategic choices'.

Initial results are available at www.risnews.com/retail-technology-innovation-index-2018 .