Printer Friendly

FINGERHUT DEVELOPS NEXT GENERATION CUSTOMER DATABASE SYSTEM

 MINNEAPOLIS, Sept. 28 /PRNewswire/ -- Fingerhut Companies, Inc. (NYSE: FHT) said today that it has begun development of its "next generation" computer system that will create the largest and most sophisticated proprietary consumer database marketing system in the world.
 Ted Deikel, Fingerhut chairman and CEO, said the new Profile 2000 system, which should be completed and on-line within two years pending the successful completion of the proof of concept phase, will provide better information, faster, to more people company-wide. Epsilon, a database marketing systems subsidiary of American Express, will develop the new system in conjunction with Sun Microsystems, which will provide the computer hardware, and Oracle which will provide the database management software for Profile 2000.
 "Our mainframe computer system, which has maintained a leading edge database for more than 20 years, currently processes six terabytes of information from nine external databases and 22 internal proprietary databases which, when combined, supply Fingerhut with its customer information," said Deikel. "Profile 2000 will consolidate all of our marketing information into one large system that can be accessed using desktop workstations. We will have faster, easier access to customer information for marketing purposes, which in turn will allow the Company to more effectively serve targeted customers and prospective customers with appropriate merchandise, offers and promotions."
 According to Steve Cone, Epsilon chairman, the first phase, which will begin in November, will develop a prototype designed to prove the technical feasibility of the consolidated database. "We believe that Phase I will prove the viability of the database technical architecture," said Cone, "which will enable Fingerhut to achieve its goal of cost effectively building a highly sophisticated customer marketing system by using high performance computing in a client server environment."
 "Selling in the 1990s and beyond is moving from niche and micromarketing to one-on-one customer marketing," said Deikel. "We have selected this team to develop the new system because they offer the best chance to propel us forward in applying emerging technology to our already intricate marketing capabilities. Profile 2000 ideally positions us for new interactive media technologies and marketing channels as they emerge."
 "Profile 2000 is a quantum leap forward in how you use database information to drive marketing," said Tom Tague, vice president for Epsilon. "Profile 2000 will provide Fingerhut more flexibility in serving each customer as an individual and creates even more opportunity for the company to tailor its offers providing the right person with the right product at the right time."
 Fingerhut Companies, Inc., is a multi-media direct marketing company, selling a broad range of products and services directly to consumers via catalogs, television and other media. The company employs approximately 8,500 people in Minnesota, Wisconsin and Tennessee. Fingerhut Companies, Inc. common stock trades on the New York Stock Exchange under the symbol FHT.
 -0- 09/28/93
 /CONTACT: Betty Bothereau, Fingerhut Companies, 612-936-5586/
 (FHT)


CO: Fingerhut Companies, Inc. ST: Minnesota IN: CPR SU: PDT

CP-DB -- MN001 -- 6210 09/28/93 07:58 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 28, 1993
Words:492
Previous Article:ITT ACQUIRES 80-PERCENT INTEREST IN GM MOTORS AND ACTUATORS BUSINESS
Next Article:CALIFORNIA ENERGY SIGNS TWO PHILIPPINE POWER SALES CONTRACTS FOR 300 MW OF GEOTHERMAL ENERGY
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters