Retailers today are faced with reduced consumer spend, increased operational costs, fast moving competition, proliferation of products and consumption channels, customers with higher expectations and lower brand loyalty. With the world shrinking into a global village, retailers need agility, business control and process optimization at each step of their business.
Tracking the movement of product volumes from manufacturers, wholesalers to customers and further for merchandise returns becomes especially challenging given the disparate cross-section of product groups (soft goods, electronics, consumer packaged products to name a few) in the retail bag. A strong Decision Management platform lets decision makers track employee, supply chain and process performance through analytical tools and effect change and business improvement.
Business intelligence and analytics while important for any sector takes on added significance in a merchandise heavy, consumer sensitive sector such as retail. Retailers traditionally laggards on the technology curve have been leaders in the use of business intelligence and analytics and are increasingly streamlining their internal processes to further improve efficiencies and drive down costs.
Our experience with clients in the retail industry has touched on all aspects of process and decision management spectrum:
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Market Basket Analysis |
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Customer/Store Segmentation & Profiling |
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Campaign Management |
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Sales Analytics |
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Up-Sell / Cross-Sell Modeling |
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Spend Analytics |
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POS Analytics |
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Market Mix Modeling |
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Pricing & Process Optimization |
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Merchandizing & Assortment Analytics |
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Supply Chain Optimization |
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Markdown and Pricing Optimization |
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Workforce Planning & Scheduling |
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Shelf space optimization – In-Store Placements & Layout Planning |
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Demand Forecasting |
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Loyalty Management |