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Business Intelligence for Retail
Kognitio has the right skills and experience to develop a high value Business Intelligence environment for Retailers | |
Whilst most retailers have bought into the fact that they stand to gain immensely the more they understand their customers, few have the ability to gain true insight from the data they collect. All too often, data is spread across an entire organisation and held in multiple repositories. Operational and transactional systems such as merchandise management, ERP and POS exist in isolation from information in other applications and many individuals within a retailer try to create their own analysis from different data sources. Their findings risk drawing inaccurate conclusions or focusing on many, near-random strategies.
By having all your data in one place and being able to drill down into your data and ask the question “Why is that?” is where most retailers struggle.
- Why do we employ twenty members of staff at 7pm? Would ten do the job just as well?
- What effect would a BOGOF promotion have on lunchtime sales?
- Why is it that we sell more of product X than product Y at 7pm on a Wednesday when normally product Y is the best-seller? Etc…
These are the sort of questions that many would like to ask but cannot. This is where Kognitio can help.
Key Benefits of Kogntio’s Business Intelligence for Retail methodology
- By looking at your data, we will tell you something useful you didn't know about your business that will make you money, through saving costs or increasing sales.
- We pull together various data sources and allow users, from management to store level, to gain a holistic view of the business.
- We enable our clients to articulate what decisions and business processes they want to manage better using data.
- We deliver insight into which events, changes, behaviour and circumstances have what impact on costs, revenue and margins.
- We offer a low-cost stepped approach to delivering Business Intelligence starting from basic functionality to full blown Business Intelligence solution.
Key Deliverables of Kogntio’s Business Intelligence for Retail methodology
- We create a suite of analytical reports based around the core metrics of Sales, Labour, Margins, Customers, EBITDA, Forecasting and Environment. Added to this, we create an ad hoc data universe enabling operational managers to investigate the relationships of assets and events.
- The analytical reports offer the user and the business a clear comparison of current performance vs trends, benchmarks and forecasts. They enable the business to cross reference EBITDA performance with operational performance and forecast or review the impact of events.
- We provide hourly, daily, weekly, period, Year-to-Date (YTD) time series analysis of all measures where our clients collect the data.
- We take away manual data collection and speed up the time to the delivery of analytical results.
- We deliver the hardware, software, analysis and maintenance of the analysis environment to take the pain out of getting insight.
- We ensure that the infrastructure and reporting and analysis environments are built up to address the business issues
Here are examples of the analysis and reporting we provide:
- Customer Behaviour Analysis (Basket Analysis)
- Product Promotions and Pricing Analysis
- Weekly and Period Performance Reporting
- Like-for-Like Reporting
- Labour Cost Management - Sales vs Labour Reporting
- Daily Performance Reporting
- Outlet Manager Recruitment and Retention
- Business Modelling
- Supplier Management
- Asset/Product Yield
Interested in learning more about how we can build and develop the right Business Intelligence environment for you?
Engage with Kognitio
- Learn more about a FREE Data Discovery exercise
- Learn more about our Business Intelligence proposition
- Request a meeting with Kognitio
Collaterals
- Download the Business Intelligence for Retail brochure
- Download the Retail Analytics – Basket Analysis brochure
- Download the Retail Analytics – Event Evaluation brochure
- Download the Business Intelligence for Retail brochure
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