Retail Data Delivers What Consumers Want
Issues First, the good news: Retailers have an abundance of business data available across their retail systems. The bad news: They often feel overwhelmed by the volume of data and uncertain of how to manage it all. At the moment, retailers lack a single source of data they can rely on to make decisions – especially for Private Label products. Their data is scattered across multiple systems, hidden in functional silos and captive in multiple formats, including Excel spreadsheets. To keep up with consumer trends (and increasingly intense competition), retailers need a way to make sense of their bounty of Private Label data. They need meaningful business intelligence that leads to smarter business decisions. Making sense of retail data To quickly adapt to market trends, retailers need to transform their data into actionable business insights. Gaining a holistic view of their business helps retailers make decisions that solve business challenges with greater speed and superior results. In response, data insight solutions can help companies improve efficiencies, time to market and business performance by enabling retail stakeholders to connect the dots, accelerate product development and gain a competitive advantage. Most importantly, data allows companies to serve consumers better and faster by increasing their efficiency and agility to deliver a superior customer experience. How consumers win Today’s consumers want to know where products have been sourced from, including the country or region, and the supplier’s name. They also demand to know what ingredients are in their products.
