rtp rsp16-good data-finaldeck
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HowRetailersCanHarnessDistributedAnalyticsToDriveRevenue,CXAndSupplyChain
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#RSP16RetailTouchpoints:@RTouchPoints
AndrewGaffney:@agaffneyGoodData:@GoodData
BlaineMathieu:@BlaineMathieu
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AboutRetailTouchPointsü Launched in 2007
ü Over 30,000 retail subscribers
ü To provide executives with relevant, insightful content across a variety of digital medium
Sign up for our weekly newsletter: www.retailtouchpoints.com/subscribe
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PanelistsMODERATOR:AndrewGaffneyEditorialDirectorRetailTouchPoints
BlaineMathieuChiefMarketing&ProductOfficer
GoodData@BlaineMathieu
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ImpactofCustomerExperience
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TopBusinessPriorities
CustomerExperience
Personalization
BigData
MultichannelCampaignManagement
ContentMarketing
Mobile
MarketingAutomation
Location-basedServices
Video
Social
Figure4:Lookingaheadfiveyears,whichoneareadoyouseeasthesinglemostexcitingopportunityforyourorganization?
B2B B2C
22%19%
16%18%
13%16%
12%12%
11%6%
6%9%
6%7%
5%3%
4%5%
5%5%
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CollectingAndAnalyzingData
Accordingtoareportfrom AberdeenGroup,41%ofleadingretailersanalyzesitesearchdatatopersonalizethee-Commerceexperience.
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NumberofSuppliersRetailersareSharingPOS(and/orInventory)DataWith:
None
Lessthan10
Between10and50
Allmysuppliers
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Top10Benefits ofDataSharing2015 RetailerBenefits1 Moreaccuratedemandforecasts
2 Lower inventoryandsafetylevels
1 Improvingonshelf availability
4 Improvingpromotion forecastingandexecution
5 Bettercategorymanagement
6 Improvedjointreplenishment
7 Improvingtheshopperexperience
8 Betternewproductintroductions
9 Betterstoreexecution
10 Improvedplanogrammanagement
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MonetizingDataTheretailanalyticsmarketsizeis estimatedtogrow from$2.2billionin2015to$5.1billionby2020,atanestimatedCompoundAnnualGrowthRate(CAGR)of18.9%from2015to2020.
How Distributed Analytics Help Retailers Drive Revenue
Digital Transformation is Crucial for RetailCompetition is fierce, but your data can create enormous opportunities
▸ A 2015 study concluded that more than $200B in retail sales are now influenced by digital interactions, and that retailers whose services fail to meet customers’ expectations could lose close to $16B a year
▸ In order to meet increased consumer expectations, retailers need to transform their omni-channel experience to match their customers purchasing preferences
▸ Your data can be your most valuable asset in this process, and can be harnessed to enhance CX, customer loyalty, and the profitability of your entire retail network
GoodData Confidential: 2016 GoodData Corporation. All rights reserved.
1990 20152004 2020
customer review sitesPOS &
billing
ERP/CRMsocial media
mobile
marketing automatio
n
loyalty programs
facility managemen
t
analytics
IoT
Dramatic Increases in Retail Data Value & Volume
GoodData Confidential: 2016 GoodData Corporation. All rights reserved.
1990 20152004 2020
customer review sites
POS & billing
ERP/CRM
social media
mobile
marketing automation
loyalty programs
facility management
analytics
IoT
Majorityof retail data is untapped
Your Data is an Underutilized, Undermonetized Asset
Unleash the Value Contained in Your DataDistributed analytics can accelerate growth and differentiation
Increase visibility into consumer preferences and buying behavior
Benchmark product sales for brands to drive more revenue
Create new revenue stream with high value insights for advertisers and brands
Empower Your Network to Drive ChangeGet actionable insights to the people that need them most
Getting analytics into the hands of the managers, operators and partners that keep your retail business network running can drive immediate change and profitability by allowing retailers to:
▸ Consistently track KPIs known to impact critical business objectives: Sales, CX, Guest Demographics, CSAT, Labor, Sell Through, etc.
▸ Benchmark individual location performance against all others
▸ Deliver actionable insights to implement changes that improve margins
▸ Provide tracking to implement new programs and track success
"With GoodData, we are able to distribute analytics to our more than 915 Firehouse Subs restaurants with a scorecard grading 10 key metrics. This awareness helps sales performance, guest satisfaction scores, being proactive during downturns, and improve franchise efficiency."
- Danny Walsh, Firehouse Subs
PROBLEMStruggled to get clear visibility into location-specific KPIs and revenue forecasts
SOLUTIONDistributed Analytics: “Station Pulse”
RESULT
▸ Delivered analytics to 900+ locations
▸ 8% increase in “scorecard” grade
▸ 3% increase in customer satisfaction
▸ 2% increase in quality of food
generic scorecard example
Our Top Data-Driven Recommendations
▸Bring on the Data!
▸ The insights in your customer data can inform your digital strategy. Uncover them!
▸Get the insights into the hands of the people on the front lines
▸ Get systems in place ASAP to connect the dots between your data and analytics and your operations
▸Put analytics in context and embed them into workflows to accelerate operations
▸ There are so many decisions that need to be made throughout the course of a retail supply chain; analytics can accelerate and automate many of these
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Q&A//PanelistsMODERATOR:AndrewGaffneyEditorialDirectorRetailTouchPoints
BlaineMathieuChiefMarketing&ProductOfficer
GoodData@BlaineMathieu
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