Over the past year, retailers and distributors have faced significant challenges due to the coronavirus pandemic. Supply chains have been disrupted, labor forces have dwindled, and customers have largely shifted to online rather than in-store purchases, forcing businesses to adjust their practices accordingly. CrowdANALYTIX already provides solutions for retailers and distributors to scale their business quickly and easily, enabling them to compete in this ever-changing marketplace. [CrowdANALYTIX for Product Master Database (CAX PMD)] streamlines and accelerates the product data onboarding process. As a result, merchants large and small can continuously expand and synchronize their product databases without wasting time or money.
Unexpected market shifts have certainly been exacerbated by the pandemic, but every retail and distribution MD (merchandiser) and product registrar was facing this challenge even before the pandemic. All the MDs and product registrants we have come into contact with have the same problem. For example, I spend a lot of time every week or every morning combing through dozens or even hundreds of Business Intelligence (BI) reports to get to the information I need. Additionally, the average MD or product registrar spends up to two-thirds of their time handling non-decision-making tasks such as data collection and synchronizing observations with colleagues. They are thus plagued with information overload and struggle with large amounts of data to get to the critical decision points that must be addressed in order to move their business forward.
Even after identifying the questions to be answered and the abnormalities to be dealt with, the MDs and product registration personnel have not yet identified how to respond, and they are not included in the list of important sales and merchandising activities. I haven't considered how to prioritize . As a result, new problems will arise before the work actually begins, and there will often be delays in getting started. Many anomalies are not remediated and many insights are not implemented in time to benefit the business.
CrowdANALYTIXは、マーチャンダイジング＆プランニングの支援としてAIを活用する目的で、【CrowdANALYTIX for Merchandising Analytics （以下、CAX MDA）】を提供しています。
▼ Click here for details of “CAX MDA”
simplified data
Companies typically use merchandising analytics systems such as Oracle and Netsuite, and embed tools such as Tableau and PowerBI. All of this aims to simplify the decision-making process for MDs and product registrants, but they don't really categorize the data in a way that humans can quickly and easily understand. A bunch of reports and endless dashboard configurations would be better than terabytes of raw data, CAX MDA Goes a step further, not only analyzing terabytes of data from trading, inventory, MDM, and other sources, but presenting the data in a way that users can instantly interpret.
CAX MDA presents 4-5 clear insights pre-selected as the focus of most users. These are not just raw numbers or unreadable charts.
Here are some real-world examples from a shoe vendor.
- Sneaker revenue is up 5% compared to last year (week to week), as opposed to a category average of -2%
- Sales per square foot of heel for Vendor 7 is down 156% against target
- Vendor 12 is 13% below target number of transactions
Instead of the MD putting together a report and deriving the results, you can check the report the moment you open the dashboard in the morning and make decisions based on it without delay.
limitless flexibility
AI can process terabytes of data at a time, so everything from transaction history, inventory changes, vendor and MDM information can be analyzed and drawn to conclusions. Users can track deviations in almost any business metric on any timeline, including content, operations, product introductions, SEO, financials, seasonal promotions, and more.CAX MDAis pre-programmed with hundreds of commonly used Key Result Areas (KRAs), but users can add their own KRAs or customize existing KRAs to meet the needs of their business. It is possible to reflect the target.
custom support
Not only can KRA and tracking be customized, but users can also get custom support from AI systems. CrowdANALYTIX's AI is so sophisticated that users can ask questions about their business decisions and tactics and receive immediate and helpful answers.
Examples of the aforementioned shoe retailers include:
- Which vendor had the shortest lead time for black kids' school shoes in the last 4 weeks?
- What was the impact of yoga shoes on category revenue over the last 12 weeks?
- Which brand had the highest sales success rate in a recent promotion?
Of course, some questions are too complex for AI to answer. If the user asks a more complex question, CAX MDA leverages a team of data scientists, statisticians, and data analysts to act on your behalf with queries. This is also a way to go deeper into the questions that users want to map out in depth.
Conclusion
CAX MDA saves the average buyer or operator at least 4-5 hours every Monday morning, Save even more time with just-in-time analytics delivered throughout the week. Users can jump directly to the information they need without wasting time on tedious analysis. Anomalies are identified almost instantly, processes are optimized with AI, CAX MDA will be seamlessly integrated into your merchant database in just 4-6 weeks.
We have prepared a large number of use cases, including "AI that realizes data-driven merchandising".
Please feel free to download and take a look.
▼ Business problem-solving AI service that utilizes the data science resources of 25,000 people worldwide
Click here for details
Source:https://www.crowdanalytix.com/simplifying-merchandising-planning-operational-decision-making-with-ai/
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