Leverage analytics to enhance your user experience and journey within your store. By applying retail and consumer goods analytics, you can collect data from different points across multiple channels and get insights into areas you need to improve to establish a streamlined customer journey and optimize your supply chain and retail operations.
Through utilizing technologies like artificial intelligence, you’ll be able to increase your store’s conversion rate, create a personalized shopping experience, and enhance your store and supply chain operations. By using the Internet of Things, you’ll be able to unify your customer experiences across your Omni-channels and provide a relevant, real-time, engaging experience. Through Cloud Computing, you as the business owner will have a full range of cloud offerings and deployment features to experience the same agility your customers have.
Retail and Consumer Goods Analytic solutions
Merchandise and Assortment Planning
Offer your customers a personalized, in-demand assortment of products using merchandise and assortment planning to increase your inventory conversion rates.
By using merchandise and assortment planning, you'll be able to:
- Forecast product demand and plan for inventory restock ahead.
- Create a profitable assortment according to your store's shelf space
- Create personalized and highly converting customer journeys
- Utilize cloud analytics in empowering your merchandise planning and in making data-driven assortment choices
- Utilize demographic and trade area features to satisfy your customers' needs.
- Use store clustering analytics to simplify assortment rationalization down to the store/item level, regardless of your business size.
Getting the right customer insights could be what makes or breaks your business. Using the insights to improve your user experience by creating an engaging, relevant, and smooth experience will also increase your store's conversion rate and customer satisfaction.
By using customer insight analytics, you'll be able to:
- Access your data from anywhere, at any time
- Collect online and offline data from several touch-points across your channels
- Collect enough purchasing data from your customers to create personal profiles with purchasing habits; this way, you can use this data to curate a personalized shopping experience for your customers and recommend other products they might need.
- Increase your data input by adding different data sources that track various actions taken across your channels, then extract insights from this data to know what, when, and where to engage your customers, thus optimizing your operations and marketing efforts.
Avoid facing high product demand and low stock in your inventory. With demand planning analytics, you'll be able to forecast your product demand and keep your products efficiently stocked while avoiding stock-outs to ensure that your store is continuously profitable.
By using demand planning analytics, you'll be able to:
- Forecast demand according to proven data and monitor your forecasts to see areas of improvement.
- Utilize modern modeling strategies with predefined models
- Extract patterns and insights from your demand data on products, pricing, shipping, and sales.
- Use multi-tiered causal analysis to measure the success of marketing and sales efforts on consumer demand.
- Integrate an end-to-end supply chain execution.
- Decrease shipping costs while increasing agility.
Inventory price optimization
Leverage analytics to have highly profitable inventory turnovers with minimum markdowns while catering to your customers' needs on time in every store location simultaneously.
By using inventory price optimization analytics, you'll be able to:
- Have a well-stocked inventory and avoid over or under-stocking your inventory, thus ensuring a profitable turnover while providing in-demand products on your store shelves.
- Forecast demand and prepare for it beforehand to ensure an increase in profits in high demand periods.
- Use automation to save time and effort and allocate them to doing more important tasks.
- Use predictive analytics integrated with supply chain constraints to empower you to restock your inventory efficiently and automatically.
- Sync your merchandising plans according to your geographical store locations.
- Take location-based pricing actions to increase turnover and decrease markdown and obsolete inventory.
Use forecasting analytics to create end-to-end supply chain scenario plans across organizational silos to enhance production plans, supplier collaboration, and freight logistics.
By using supply chain analytics, you'll be able to:
- Keep up with the marketplace dynamics and fluctuations by managing the production and logistics to match these changes.
- Utilize multi-echelon optimization with advanced simulation tools to calculate the best inventory policies
- Leverage forecasting models to know the different variables' effect on the supply and demand balance.
- Enhance the customer experience by enhancing your delivery expectations and performance.
- Know at any time your standing and in-motion inventories to plan and schedule for future inventory raw materials and products restock.
- Use machine learning and AI to connect the shopper engagement with product demand.