MicroStrategy Recognizes CIO of Lowe's Companies with Individual Excellence Award
LAS VEGAS, Jan. 24 /- MicroStrategy® Incorporated (NASDAQ:MSTR), a leading worldwide provider of business intelligence (BI) software, today announced that it has selected Steve Stone, Senior Vice President and Chief Information Officer of Lowe's Companies, as the recipient of MicroStrategy's Individual Excellence in Business Intelligence award. Mr. Stone was recognized today at MicroStrategy World 2007 in Las Vegas, Nevada.
Lowe's is the second-largest home improvement retailer in the world. As CIO, Mr. Stone provides the vision and leadership for developing and implementing information technology initiatives in alignment with Lowe's business strategy. He has overall responsibility for the planning, delivery, and maintenance of cost-effective technology solutions needed to support Lowe's various business groups. Lowe's primary data warehouse contains more than 20 terabytes of data and has grown by more than 20 percent per year over the past few years.
Lowe's BI environment contains industry-leading technology from MicroStrategy, Teradata, Informatica, and IBM. There are over 30 full-time professionals and contractors dedicated to building a BI Center of Excellence at Lowe's, with 17 reporting and analysis applications. The MicroStrategy implementation at Lowe's, called DART (Data Access and Reporting Tool), provides employees greater insight into key performance metrics. More than 150,000 reports are run each week, and Lowe's employees from multiple business areas use the data to manage inventory, improve margins, review market specificity, and identify sales opportunities. Lowe's also uses BI to analyze demographic attribute data to better anticipate the products that its customers will buy.
"I am honored to receive MicroStrategy's Individual Excellence award," said Mr. Stone. "Lowe's is committed to information-driven decision making. We have used decision support and data warehousing for over 13 years and have invested heavily in improving our data warehouse and business intelligence programs. As a result of using the MicroStrategy platform, Lowe's is realizing significant benefits through improved merchandising decisions, more timely responses to information requests, cost reduction initiatives, enhanced employee productivity, and better service to our customers."
"Steve Stone has exhibited exceptional innovation, vision, and insight in business intelligence software deployment at Lowe's," said MicroStrategy's COO Sanju Bansal. "Under his guidance and leadership, the data warehouse implementation has redefined the way the company does business. We congratulate Steve on his outstanding work."
About Lowe's
With fiscal year 2005 sales of $43.2 billion, Lowe's Companies, Inc. (NYSE:LOW) is a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,325 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world.
About MicroStrategy
Founded in 1989, MicroStrategy is a global leader in business intelligence (BI) technology. MicroStrategy provides integrated reporting, analysis, and monitoring software that helps leading organizations worldwide make better business decisions every day. Companies choose MicroStrategy for its advanced technical capabilities, sophisticated analytics, and superior data and user scalability. More information about MicroStrategy (NASDAQ:MSTR) is available at www.microstrategy.com.
Contact:
Wende Cover
MicroStrategy Incorporated
703-770-1646
wcover@microstrategy.com
Source: MicroStrategy Incorporated
Web site: www.microstrategy.com/
