Main idea of Retail Intelligence is to bring meaningful, actionable data to marketers responsible for traditional in-store and on-line selling. Basic unit of analysis we suggest is purchasing behavior. This approach reflects the shift from product centric (ERP systems) to customer centric analytics. Buying patterns serve both: as the subject under investigation and evaluation criterion of marketing actions.
Key business questions addressed by our solution are the following:
- Should a company force unified marketing policy or accommodate marketing action to follow regional differences in purchasing habits?
- How to maximize profitability of selling space based on consumer preferences related to brands and SKUs constituting our portfolio?
- How to arrange space and how to place products to maximize income?
- What products should be offered together and when to compensate seasonal changes in sales volume?
- How selected products that we can act upon drive purchasing other goods?
- How to arrange on-line selling space (web page design) to maximize conversion?
- What products to recommend as the next-step purchase based on purchasing sequences?
All of the above business problems are addressed by our Retail Intelligence solution via analytical dashboards, data summaries and practical metrics directing marketing programs.
- RI offers:
- discovery of purchasing patterns defined by frequent item sets (products bought together) and by purchasing rules expressed in terms of antecedent and consequence on three levels: category, brand and SKU;
- multi-level visualizations and table summaris with dill-downs of basket pool shares and its changes related to items under investigation;
- consumer engagement indexes expressed by frequency of different basket sizes with unique categories of products and basket values;
- multi-level scoring metrics referring in-basket frequency focused on categories, brands and products;
- consumer brand preferences and prices coverage within categories of products;
- real time indexes referring the structure of consumer interest in company offer and conversion rates;
- analysis of on-line lost income, dynamics of the phenomenon and its sources.