Retail Decision Analytics: Linking BI with automated execution
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This presentation covers the history of retail business analytics, the challenges retailers face, and checkpoints of what they should be seeking in a BI or analytics tool.
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Retail Decision Analytics: Linking BI with automated execution
- 1. Quantum Retailon Retail Decision Analytics 1
- 7. Alignment of strategy and execution
- 10. Quantum… The small details create significant change Noun Physics: The smallest discrete quantity of some physical property that a system can possess Adjective Sudden and significant: a quantum increase in revenue.
- 12. Emergence
- 13. Interactions
- 14. Living systems
- 15. Learning systems
- 17. Integrating the Silos Entire contents © 2007, Quantum Retail Technology, Inc.
- 18. Integrating the Silos Merchandise Planning Product Fulfillment BI integrates insight and action
- 20. Put it in business context with your strategies
- 21. Ensure it is actionable
- 24. Marks & Spencer Problems: Scalability Customers want high availability Waste is high as a result Localized market variance Huge variation in store sizes Strategy: Maximize Profit Subject to… Results: Increased profit, sales units and $$ Improved service-level and turns, more visibility Increased supply chain efficiency Redefined business practices for driving sales and profit Entire contents © 2010, Quantum Retail Technology, Inc.
- 25. The Actions Real-time and continuous Exception driven Guided decisions Driven by and executed atthe lowest level Still allows for expert input – Merchants not mathematicians Integrated – data and feedback loops Entire contents © 2010, Quantum Retail Technology, Inc.
- 26. HQ Screen
- 27. New Look Problems: Complexity of an extended range, new channels, and new markets, lifecycles as short as 6 weeks to maintain freshness Missed sales from poor localized fulfillment No visibility to lost sales, item performance, localized/international needs, or profitable distributions Strategy: Maximize full price sales subject to… Results: Increase sales by 2% and profit by 4% 98% acceptance of system guided decisions Grew business by 20% in one year without add’l inventory or heads Entire contents © 2010, Quantum Retail Technology, Inc.
- 28. The Results Measurable Confidence Adaptive Learning Improve over time Entire contents © 2010, Quantum Retail Technology, Inc.
- 30. The context and strategy
- 31. Action
Hinweis der Redaktion
- Forcing a move away from insight based analytics (only) to now include decision point analytics and action.
- Newtonian Physics – the laws governing the movement and interaction of large objectsQuantum Physics – the laws governing the movement and interaction of small thingsGranularEmergenceInteractionsLiving systemsLearning systems
- How we have designed and delivered solutions to address these needs
- How we have designed and delivered solutions to address these needs
- How we have designed and delivered solutions to address these needsMerchandise optimization solutions (EBO) that use predictive decision point analytics to link demand signal and demand response planning, optimization, and execution capabilities….
- Reframe the QuestionUse insight to Predict future Put it in business Context with your strategiesEnsure it is ActionableDeliver the results
- Taking what is traditionally BI and using it as a constraint or variable in the larger and more complex equation of how to optimize my business….NOT: Who is my best customer? Are you really asking, who was my best customer last…w, m, y?NOT: What is my most optimal supply chain today?Given what I know about my customer, my product, my supply chain, how do I make the most profitable inventory movement and placement decisions….knowing there are 135M different decisions to be made.
- Link your business goals to the scienceBusiness purpose and processCreates visibilityProvides all information necessary for decisionImbed in technology, not just processFocus is decision point analytics