Business Intelligence (BI)

Chain Store Age recently spoke with Hiro Yoshikawa, CEO and co-founder of Treasure Data. He discussed how a new level of customer data analysis can improve the customer experience.

How has unified commerce and digitally influenced retail stepped up the game on data management?

Walmart is streamlining how its third-party suppliers connect with its marketplace.    Acenda announced Wednesday that it has integrated with Walmart.com's global marketplace, connecting Acenda store owners and third-party sellers with Walmart's significant customer base.  Acenda now helps retailers and brands optimize their product listings across major marketplaces including Walmart, Amazon, Google and eBay as well as leading retailers.  

Subway is more accurately planning new locations.   The fast-causal restaurant chain is partnering with location intelligence provider SiteZues, to augment its development strategy. The company’s data-driven solution will combine advanced geospatial technology and visualization with Subway’s market data. The result will be more thorough and accurate insights — the foundation Subway needs to plan and expand its market growth.   

Expensive, ineffective loyalty programs are in need of a makeover.   Retailers that shift to digital-centric programs that engage and promote brand advocacy will retain the loyalty of customers, according to the “Intelligence Report: Loyalty 2017.” The report, from L2, evaluates the successes and pitfalls of loyalty programs for 99 consumer brands across activewear, beauty, big box, department stores, and specialty retail.  

Businesses are eager to better serve their clients, but most lack the skills, processes and technology needed to leverage data effectively.   In fact, 61% of U.S. companies agree that inaccurate data is undermining their ability to provide an excellent customer experience, according to “Investing in Digital Transformation: The Year’s Most Sought-After Data Roles,” a report from Experian Data Quality.  

The brand best known for its smiling pink whale logo is improving pricing, design and buying decisions by using an innovative data source.   By partnering with First Insight, Vineyard Vines will leverage the company’s online social engagement tools to gather real-time product pricing and sentiment data from its customers. This information will then be analyzed by First Insight’s predictive models.   

With plans to triple its store portfolio in six years, Parfois needs to expertly anticipate demand and gain global visibility into its inventory.   By partnering with Oracle, the accessories retailer is one step closer to scaling its operations. Parfois added the Oracle Retail Merchandise Operations Suite and the Oracle Retail Warehouse Management System — two solutions that will support the company’s high growth and international expansion plans.  

Consumer confidence remains strong, but that's not stopping retailers from worrying about the economy.   General economic conditions ranked as a top risk factor for the 9th consecutive year in an annual ranking of the top 25 risk factors by retailers, cited by 100% of respondents. Cybersecurity and regulatory concerns shared the top spot with the economy.  

Vitamin World’s commerce and supply chain operations are undergoing a digital transformation.