Cloud Solution Enables Improved Insight and Analysis for CPG Planning and Promotions Optimization
NRF 100th ANNUAL CONVENTION, NEW YORK – 1010data, providers of the leading hosted analytics and reporting platform, announced today that the company’s namesake service is being used by a growing number of retailers to power portals that provide timely data about product movement. 1010data hosts the data via its private cloud service and offers a range of analytical and reporting tools that give retailers and their suppliers a window into point-of-sale (POS) and inventory data. The capability is a boon to consumer packaged goods (CPG) companies and retailers alike, and furthers efforts to collaborate for improved planning and promotions optimization.
Major retailers like Rite Aid have deployed vendor portals using 1010data and are already starting to see results.
“Our RITEInsightTM portal is powered by 1010data and has helped us better understand the dynamics of our business,” said Don P. Davis, senior vice president and chief information officer, Rite Aid. “It allows us to share the same data our category managers see with our suppliers, helping us to work closer together to improve results.”
RITEInsight is a Web-based tool that allows Rite Aid suppliers access to the same sales movement data that Rite Aid category managers use to make business decisions. It improves collaboration and communication with the supplier and the Rite Aid team. Over 70% of Rite Aid suppliers are currently enrolled in the program, with new suppliers being added regularly.
“Rite Aid realized that they had outgrown the traditional summarized approach in analytics,” said Jim Mattecheck, vice president, Retail Solutions Group, 1010data. “By using our technology to dig deep into the dynamics of their business and work with transactional data at its ‘lowest’ level, the companies are gleaning new insights and delivering unprecedented access to vendors.”