As retail markets become increasingly competitive, the ability to react quickly and decisively to market trends and to tailor products and services to individual clients is more critical than ever. A business intelligence system can be a very effective means of organizing and analyzing the vast amount of information generated in a retail business, and help you generate a more effective business model for keeping your business profitable.
Successful retailers strive to accomplish three basic objectives:
Shopping experience
- Identify, report on and analyze trends to respond to consumer buying needs and behavior
- Use predictive models and association rules to determine which group of products work best for which customers.
- Gain insight into customer perceptions of service, store, products and merchandising, and integrate results across the business.
- Create flexible seasons for basics, seasons and “waves.”
Promotion planning, merchandise planning and market basket analysis
- Optimize merchandise levels, minimize out-of-stocks and manage inventory costs.
- Conduct market basket analysis to anticipate customer response and improve promotions.
- Develop plans for key financial indicators including returns, cost of goods, supply chain costs and gross profit.
- Plan for the impact of markdowns and promotions on inventory value and margin.
Smarter operations
- Align corporate and store operations around critical revenue and profitability targets; and quickly adjust plans and resource allocations to achieve profitable growth.
- Set, measure and monitor key performance metrics based on standard financial statements.
- Use predictive models to improve recruitment and optimize staffing decisions.
- Increase cost savings by comparing and benchmarking performance across stores, channels, regions and divisions.
- Gain visibility into key metrics across the chain: sales, labor, inventory and promotions.
- Monitor turnover and employee productivity.
We offer our solutions using best of breed technologies from
- IBM COGNOS.
- IBM SPSS.
- SAP Business Objects.
- Microsoft CRM.