Prada Group seeks to better understand both its planning processes and its customers.
The Milan, Italy-based global luxury retailer is rolling out several cloud-based Oracle Retail solutions on both the front and back ends. Through the mobile deployment of Oracle Retail Xstore POS and Oracle Retail Customer Engagement Cloud Service, Prada intends to collect customer preferences and purchase habits.
The retailer will then analyze the customer data it collects to support strategic actions designed to increase loyalty. And most recently, Prada deployed Oracle Retail Cloud Services for merchandise financial planning, assortment, and item planning to optimize its merchandising process.
Specific merchandising workflows Prada intends to streamline include sales and forecasts, performance analysis, and inventory management and allocation. Equipped with this data, the company aims to better understand its operations process, plan for different scenarios more effectively, and react more quickly to changes in its market.
In the next phase of its planned merchandising transformation, Prada will deploy Oracle Retail Demand Forecasting Cloud Service, an enterprise forecasting engine within the Oracle Retail Analytics and Planning suite. These solutions sit on top of Oracle Retail AI Foundation, a cloud platform built to provide analytical insights users can apply to drive decisions in areas such as planning, buying, moving, and selling.
"A global player like the Prada Group takes the time to understand the data around its customers, including attributes, behavior, and preferences," said Mike Webster, senior VP and GM of Oracle Retail. "The marriage of planning and analytics with the customer experience technology allows a retailer to predict, personalize and deliver on its brand promise. We are delighted to celebrate the successful deployment of our cloud-based, AI-infused retail planning and forecasting solutions integrated with our omnichannel solutions at Prada Group."
"Understanding our customers and their journey is critical to our success," said Lorenzo Bertelli, Prada group marketing director and head of corporate social responsibility. "Technology can help with that and allow us to innovate faster, to drive value, and ultimately growth. With Oracle, we have built a trusted relationship and know we can rely on the team and their technology to meet our business needs."
Prada leverages cloud for real-time personalization
Prada also recently began deploying Adobe Real-Time Customer Data Platform and Adobe Journey Optimizer, part of the Adobe Experience Cloud, to combine large amounts of existing shopper data.
As a result, Prada intends to create unified customer profiles and deliver personalized experiences across any channel in real time. Customers who have opted in will enable sales assistants to know when they visit a store and their preferences, with the goal of a richer, more personalized experience.