Otto, the largest online retailer for end-consumer fashion and lifestyle in Germany, and Blue Yonder, a leading provider of Predictive Analytics, were named winner of the Best Customer Insight Project category at the BT Retail Week Technology Awards in the UK.

The project, titled Closed Loop – system-based decisions throughout the product lifecycle with Predictive Analytics and Big Data, focused on the need for sales forecasts to evolve beyond traditional ‘static’ processes.

“We are thrilled to be the recipient of such a prestigious award in the retail industry especially considering the notable competition that we stood up to,” said Michael Sinn, Director of Supply and Category Management Support, Otto. “As an early adopter of using Big Data techniques in the retail environment our business has made great progress as a result. We look forward to continuing our award-winning and trendsetting relationship with the team at Blue Yonder.”

With Blue Yonder’s Predictive Analytics technology, Otto is paving the way when it comes to using Big Data to improve customer insights in the retail sector. The collaboration highlights the importance of accurate forecasting and also underlines the value of converting data into meaningful predictions about future trends that will meet current customer demand.

“This is a major achievement for Blue Yonder to be recognised amongst so many of our industry peers,” added Rakesh Harji, UK Managing Director, Blue Yonder. “Accurate forecasting that gives retailers the power to predict future customer needs and purchasing habits is becoming critical in a multichannel world. For our Predictive Analytics technology to be selected as leader in this field is a huge accomplishment for all involved in the Otto Closed Loop project.”