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Stay Ahead of the Curve with Retail Analytics

 
Data-Driven Retail Solutions

DecisionMinesTM: A Data-driven Solution for Retailers

The dawn of the new millennium has ushered in a wave of technological advancements, putting the customers firmly in the driver’s seat and making them more empowered than before.The best way to stay ahead of the disruption curve is to leverage the power of information to offer innovative solutions. The power of information, coupled seamlessly with an integrated landscape of connected services, helps retailers invigorate their brands and retain customer loyalty. DecisionMinesTM for Retail helps enterprises create an effective strategy by modelling existing data, with an eye on the ROI and brand acceptance. Organizations can thus use data science to make better pricing decisions, understand customer purchasing behavior, predict the customer’s next move, and thereby take the next best action.

Customer Retention

Customer Retention

Disparate shopping channels drive away customers

Inventory Optimization

Inventory Optimization

Unoptimized inventory leads to frequent stock-outs

Workforce Handling

Workforce Handling

Incorrect rostering leads to dissatisfied customers

Pain Point
 
Solutions
 
KPI
 

Prescriptive Retail Solutions

Jane Thomas Merchandising Manager
Jane Thomas
| Merchandising Manager
Manages planning, buying, stocking, and presenting of products.
   Trend Analysis | Merchandising Strategy | Product Insertions
Q
What are the current market trends and what products should I stock up on?

Trend Predictions

Insights into prevailing fashion trends for upcoming seasons.

Consumer behavior data is vital for retail companies in making profitable business decisions. Retail marketers extensively use big data and machine learning to optimize analytics, gain real-time insights, and predict customer behavior. Retailers can leverage machine learning by smartly integrating predictive analytics with back-office systems such as inventory and purchasing. By mapping customer purchasing behavior pointers, retailers can derive helpful business insights such as behavioral patterns, shrinkage prevention, store analytics, and customer analytics. Retail predictive analytics by DecisionMinesTM helps business leaders make data-driven decisions using multiple analytics parameters and retail analyses.

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Q
What is the right time, quantity, and place for product procurement?

Category Analytics

Insights into the profit and revenue combination of various products and SKUs.

The key challenge faced by any retail merchandiser is gauging the demand for a product. Today’s retailer is inundated with petabytes of data—a virtual goldmine. Correctly analyzed, this data can provide insights into historical product performances, seasonality behavior, and a way to maintain an optimal inventory and manage product insertions. Products need to be continually evaluated to assess future risks, avoid costs overruns, and create a competitive advantage. Adopting a lifecycle approach helps chalk out an end-to-end roadmap for the product. DecisionMinesTM thus helps retailers enable a better overall performance.

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Q
Which employees are likely to quit?
Brandon Williams Store Manager
Brandon Williams
| Store Manager
Manages the store and facilitates smooth running of business
    Store Image Enhancement | Performance Optimization | Profit Improvement

Workforce Analytics

Real-time insights for people analytics, thereby improving bottom line.

AI and machine learning algorithms offer predictive models such as decision trees or random forest methodologies to help understand the complexities of human capital management. Workforce optimization and attrition control are key challenges for store managers. In this complex world, there are no perfect schedules, only perfect algorithms, and it takes a machine to help retailers find that perfect schedule. Workforce Analytics by DecisionMinesTM provides a 360-degree view of workforce demand and supply, optimizing allocation and minimizing talent acquisition costs. It enables companies to have a contingency plan in place backed by behavioral data.

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Q
What will drive high footfall to the store?

Customer Analytics

Insightful pointers to leverage consumer preference for retention.

The best retail experiences always begin with knowing your customers, and serving them in their precise moment of need. Retailers need to engage consumers with curated marketing while providing seamless and interconnected shopping channels. DecisionMinesTM processes insights from the customer journey analytics data to help retailers provide relevant consumer experiences. Retailers can save time by replacing traditional analysis with a broader analytics strategy focusing on shopping preferences, customer purchasing behavior, and retail industry trends and predictions. We help you predict your customer’s next move and measure the impact of your strategies.

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Kevin Stone Warehouse Manager
Kevin Stone
| Warehouse Manager
Manages enterprise-wide inventory and allocation
   GMROI Optimization | Stock Sell-through Optimization
Q
Which products are likely to be OOS, but with a high GMROI?

Inventory Optimization with GMROI

Actionable insights to increase GMROI, minimize stock-outs and overstocking.

In the new digital economy, inventory is a critical business asset. Retailers naturally feel compelled to continually stock up, but often lack the strategy to optimize inventory. The key challenge is syncing the demand and supply planning factors and fulfillment operations such that time-to-shelf is quick, and manufacturing and distribution costs are low, because poor cross-channel inventory management affects revenue and customer loyalty. DecisionMinesTM helps retailers gain a competitive advantage with insights driven by store analytics and customer behavior. Using algorithms and GMROI, it enables you to avoid out-of-stock situations without excessive inventory maintenance.

Connect with us to discover how retail predictive analytics provides real-time insights.

Q
How do I manage demand fluctuations while maintaining an optimal stock sell-through?

Demand Forecasting

Insightful pointers to improve sales volume, using historical data and changing trends.

In the new digital economy, inventory is a critical business asset. Retailers naturally feel compelled to continually stock up, but often lack the strategy to optimize inventory. The key challenge is syncing the demand and supply planning factors and fulfillment operations such that time-to-shelf is quick, and manufacturing and distribution costs are low, because poor cross-channel inventory management affects revenue and customer loyalty. DecisionMinesTM helps retailers gain a competitive advantage with insights driven by store analytics and customer behavior. Using algorithms and GMROI, it enables you to avoid out-of-stock situations without excessive inventory maintenance.

Connect with us to discover how retail predictive analytics provides real-time insights.

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