Retail & CPG
See Your Business in High Definition
You know that assessing customer purchase behavior based on basket averages, or performing assortment, merchandising, pricing and other key planning functions based on aggregated or sample data, is at best an approximation. Now you can quickly and easily do item-level analysis at the transaction level, in house, and make daily decisions to focus your business like never before.
1010data’s unique technology resolves many of the analytic challenges faced by retailers and CPG companies today, while propelling the discovery of merchandising and operational improvements as well as competitive advantages at an unheard of pace and scale. We enable ad-hoc analysis on huge volumes of data across times series, products, and stores, so retailers get answers quickly and can respond to their ever-changing in-store and competitive landscapes.
Business-Friendly Analysis and Reporting
Our platform feels like a business-friendly spreadsheet. Coupled with 1010data’s standardized reporting packages, retailers can perform and share the results of everything from basic operational reports to sophisticated ad-hoc analyses without straining limited IT resources.
Impact on the Bottom Line
1010data has a large presence in the retail and consumer packaged goods market. With companies like Dollar General, Procter & Gamble, SONIC Drive-In, Coca Cola, SC Johnson, Vitamin Shoppe, and dozens more using us for,
We can now make decisions on absolutes not averages, this makes us a much better merchandising teamVP Merchandising, Dollar General
As they say, retail is detail. Yet, most analytic platforms do not offer access to basket level detail, and the ones that do most often require incredibly complex tools, IT department involvement, or advanced programming skills. 1010data enables retailers and their suppliers to analyze the most granular data across all levels of users in all departments. This allows leaders like Dollar General and Pepsi to perform item affinity analysis and true item profitability analysis in seconds, by examining each and every basket. Armed with this information, the marketing department can optimize promotions, store operations can optimize planograms, and the purchasing team can optimize product assortments.
Loyalty cards produce valuable data, but most retailers barely use a fraction of this data today because of the challenges in storing and analyzing billions of records. 1010data customers are able to quickly and cost effectively delve into this data to perform item affinity (across years of customer data), deeper customer segmentation (for example frequency and margin analysis for every customer in just seconds), trip mission analysis, and to create individualized promotions for every customer.
The two largest data sets that most retailers have are their inventory and POS data. These data sets are inextricably linked because knowing what is selling at individual stores enables the logistics and supply chain teams to optimize inventory allocation decisions. With 1010data, it is easy to combine these data sets for a comprehensive view of what exactly is selling and at what velocity it is moving through the supply chain. Companies like AutoZone are also using 1010data to mash up external data sets, including economic and demographic data, with their inventory and POS data to inform store-specific assortment and stocking decisions.
Retailers are able, with the 1010data platform, to statistically analyze their POS and inventory data to assess previously unidentifiable out of stocks. In a recent test, a major retailer saw a 3% increase in overall sales by implementing an Out of Stock Analysis in 1010data, obviously a huge increase to any retailer’s bottom line. Retailers can also perform phantom inventory analysis, and because of the extreme speed of 1010data, there are no data latency issues.
For 1010data customers like Rite Aid and Dollar General, enterprise data warehouses are no longer cost centers but have become profit centers in that they generate revenue directly from their data. Using 1010data they have created vendor portals, giving hundreds of CPG companies like Pepsi, Johnson & Johnson, and Procter & Gamble, access to their detailed, transaction-level POS data. These CPG and FMCG companies are paying customers of the retailer, and for good reason: With the access to the transaction level data provided by the 1010data platform, they are able to perform all of the analyses discussed above by themselves for the first time. With it they can increase their sales, enhance promotional effectiveness, optimize pricing, do precise targeting of store locations for new item launches, and perform mashups with third-party data sets. Now they truly understand their performance on a store-by-store, SKU-by-SKU basis in these chains, and have a better understanding of the market as a whole.
For the retailer this not only allows the creation of a new revenue stream, but provides access to a proxy force of analysts as well, since the suppliers can help increase performance and efficiencies.
Security is not an issue in that 1010data allows detailed access control to specific data sets and to specific rows and columns within each dataset.