In all areas of the business, retailers can use data to inform decisions through out the life cycle of a promotion. What connections successfully engage your customer? motivate this customer to be loyal? to spend more?
How will promoting this product impact sales of other items? How will this discount impact your profitability? of the item? of the category? What is the long term impact of your discounts, offers and connections on customer shopping and purchasing habits? on your business?
How will this type of offer impact sales in stores? Online? How much impact does an end cap have on sales events? What inventory is needed, where to stock this item? How do you recover from this promotion?
Using robust analytics helps you understand the impact of offers and connections on customers and the business, providing a stronger foundation for making decisions. Accurate insights help ensure decisions are profitable, in the short and long run.
Promotional activity affects a retailer through the business, from marketing to merchandising, supply chain, space planning and in the store. Without coordinated processes along with data insights, customers are disappointed and revenue is lost, excess stock ties up capital and incurs costs.
Options for connecting with customers and targeting offers are ever changing and expanding. In digital space, analytics have typically been marketing centric, focusing on conversions and pointed customer objectives. But as this area grows, so does its impact on merchandising and supply chain. Connecting these areas and cross-leveraging information to maximize overall performance becomes critical.
As technology expands so does data available to help you better understand your customer and ensure you are making decisions in line with your strategies across all areas of your business.
How can WE help?
HOW CAN YOU BETTER USE DATA Throughout your promotional life-cycle?
Exploring how to use data analytics to move your promotional practices to next level? We help retailers looking to improve efficiency and accuracy of data-driven decision making. In our opportunity assessment, we meet with retailers to:
- Understand business challenges and objectives around promotions
- Review current promotional practices across your business
- Assess alignment across functional areas
- Evaluate system configurations
- Identify available data
- Discover opportunities for benefit, in line with short and long term strategies
An external perspective can help evaluate and develop business case for advanced analytics tools and deep-dive analytics projects.
WE CRUNCH DATA TO better inform your promotional decisions
We perform deep dive analysis on focused business problems to help retailers understand what happened and why and how to influence what will happen in the future.
- Understand and inform business strategy
- Analyze large and complex data sets
- Data scrubbing, simulations, statistical modeling and other advanced analytic methods
- Model customer response and business impact of promotions
- Strategic insights and recommendations
Promotional effectiveness, customer response insights, etc. We also provide outside resources to audit current analytic initiatives and expand your quantitative and programming expertise.
SIMPLIFYING COMPLEX SOFTWARE. AND MAKING IT WORK BETTER. FOR YOU.
Whether you are currently using or implementing complex software and analytics in your promotional lifecycle, we can help you get quality results that meet your objectives.
- Review user processes and business objectives
- Examine systems settings
- Align system to business strategies
- Refresh and tune system parameters
- Customize enhancements
- Educate user community
Complex solutions can include promotional planning and optimization, forecasting, replenishment, and other software systems, custom or off-the-shelf.