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.

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, by identifying new opportunities to help you regain your competitive edge.

Retail data analytics can also be used to improve efficiencies in daily operations and better manage inventory to free up capital and bolster your market position and bottom line.

Using advanced analytics and machine learning to manage your planning and forecasting processes will help you to predict the future, being your very own crystal ball to better follow customer behavioural insights, sales margins and demand levers.