Gain a competitive edge over Retail and E-tail
Retail has long been driven by information, yet most retail companies are still not using their data effectively to manage sudden change. The constant disruptions to the industry just keep coming, forcing many companies to invest heavily in online and click-and-collect solutions to bolster their diminishing bottom line. This plus interesting innovations in online and instant shopping like same-day delivery and try-before-you-buy agreements have allowed retailers to modernise their legacy solutions and spreadsheet models to a more automated and connected approach.
However, Rapidly changing consumer buying patterns, new products from competitors, market uncertainty, online shopping, global pandemics, will continue to destroy retail businesses that don’t adapt and transform. Digital transformation is a must for retail business. Leading retailers are moving to integrate their finance, operations and other core systems into a unified decision-making platform so they can perform all their reporting, planning and analysis that is essential to driving sales, demand and growth.
Areas where PMsquare works alongside retail groups are:
Retailers who are thriving in the current environment are using data analytics to drive growth. If asked they would tell you they have invested heavily in the digital transformation of their FP&A and S&OP processes to stay abreast of the current changes and uncertainties in the global market.
If your company is not thriving, an integrative data analytics solution can give you a new perspective and deeper understanding of your customers’ needs and market demands, and help you to identify new opportunities to regain your competitive edge.
Use retail data analytics will improve efficiencies in daily operations, better manage inventory, free up capital and bolster your market position and bottom line.
Using advanced analytics and machine learning will give you your very own crystal ball, so you can manage your planning and forecasting processes and better follow customer behavioural insights, sales margins and demand levers.