Better decisions within tight time frames. Superior financial results, even when you have overlapping legacy systems. And true business transformation from stronger customer relationships, more profitable growth and unique competitive advantage. We deliver comprehensive retail analytics that address all your essential retail business functions, including:
Digital asset management. Generate and manage artwork across your entire collection of digital assets using a secure infrastructure.
Manage and control multiple versions of assets.Catalogue the asset library, and easily retrieve assets for quick preview and effortless distribution.
Integrated planning and execution.Facilitate collaboration among key stakeholders to ensure that your marketing plans align with corporate goals. And make it easy for marketing teams to use approved plans to design and execute associated marketing activities.
Holistic dashboards and reporting.Get a single point of controlled access to relevant marketing information and KPI's. A comprehensive dashboard shows a summarized view – of plans, budgets, programs, projects, marketing events, assets – along with the ability to drill down into details.
Ask and answer more innovative questions than ever before. Solve more complex problems than you ever thought possible. And make better decisions faster. With SAS, you can:
Easily extract critical insights from big data – anytime and anywhere. With data visualization paired with powerful analytics, you can easily explore huge volumes of data visually. Robust reporting and flexible information sharing means you can share insights with anyone anywhere – even on mobile devices.
Tap into all the possibilities big data has to offer. High-performance analytics uses in-memory processing to quickly analyze massive amounts of data. So you can answer your most difficult business questions in real time.
Get the most out of all your data. With omnichannel data management, you get a single environment that merges data quality and data integration processes. That means you can focus on extracting insights from your data rather than spending your time accessing, transforming and cleansing data.
Learn how SAS Analytics powers retail by optimizing every facet of your retail business. SAS can help you become a true omnichannel retailer, improve the customer experience and strengthen your brand staying power.
SAS at NRF
Retail’s Big Show
January 15 – 17, 2017
Jacob Javits Center, New York
A better understanding of customers – their preferences, buying behaviors and what they are thinking (and saying) about your brand. The ability to use that insight in your merchandising and marketing decisions. And better customer acquisition, stronger customer loyalty and increased profitability as a result. We deliver retail analytics that include capabilities that enable:
A complete view of the customer. Create a single view of each customer – one that includes preferences, propensities, transaction history and social media interactions – across brands and merchandise.
The ability to predict customer behavior. Use predictive analytics to gain insights into the major factors that influence customer satisfaction, long-term relationships and sales results.
Omnichannel marketing. Gain a richer, more meaningful omnichannel customer understanding so you can put customer intimacy at the heart of your retail operations.
Know your customers’ preferences and buying behaviors. Produce highly targeted campaigns more quickly so you can influence spending trends in your favor. And ensure that all your marketing and merchandising processes are based on clean, accurate, up-to-date data. With SAS, you can:
Gain a complete view of your customers. Easily combine all relevant data – demographic, geographic, attitudinal and behavioral data – from both online and offline channels.
Create more relevant, personalized communications – in real time. Target individual customers with anticipated offers tailored to their preferences, and delivered via their preferred channels.
Get multichannel marketing campaigns out the door fast. With automated campaign planning, you can quickly define target segments. Prioritize selection rules. Select communication channels. Schedule and execute campaigns. And analyze results.
The best-fit assortment for all your channels. Strategic store clusters that ensure effective allocation and replenishment. And better inventory management overall. SAS delivers solutions specifically designed for retail that include capabilities for:
Merchandise financial planning. Plan and manage sales, margin and inventory turns across all categories and channels.
Merchandise in-season management. Set data-driven financial performance goals and match inventory to in-season demand. Then review performance data and adjust merchandise forecasts as needed in response to changes in demand patterns and inventory conditions.
Merchandise assortment planning. Build product assortments that have the ideal breadth and depth so you can match customer needs while simultaneously supporting your financial goals.
Allocation. Analyze store-specific needs and optimally distribute inventory across all your retail outlets.
Demand forecasting. Generate forecasts and automate in-season reforecasting so you can intelligently build assortments and prepopulate “seed” plans using product and store attributes.
Store clustering and assortment localization. Identify clusters based on actual sales history, and focus assortment planning activities on the most significant store groups. Add customer preferences to your analyses to make local assortments a reality.
Integrate all your merchandising processes. Reconcile plans top-down, bottom-up and middle-out to ensure that your financial plans and merchandise plans work hand-in-hand. And increase sales and margins while reducing staff time and boosting company performance. With SAS, you can:
Develop and implement effective merchandising plans based on expected customer demand – not just historical data. Statistical forecasting capabilities designed specifically for retail let you quickly and accurately predict store-level customer demand.
Create optimal localized assortments based on the relationships of customers, products and locations. Use advanced analytics to identify and understand what drives buying decisions, and use scenario planning and what-if modeling capabilities that incorporate these insights to ensure the right assortments for your targeted customers.
Increase efficiency and productivity. Easily share real-time financial and assortment information across your entire organization.
Accurate forecasts at the SKU, store or daily level. Maximum stock coverage at minimum cost. And more balanced inventory levels. Our retail analytics solutions include capabilities that enable:
Better forecasts. Understand demand better than ever with a powerful and highly automated forecasting solution that can produce results down to the individual store and SKU level.
Better planning. You can seamlessly integrate our forecasting solution into your existing planning processes to quickly and easily identify opportunities and improve profitability.
Better business results overall. Improve every aspect of your business with better forecasting and replenishment. That means more sufficient in-stock levels, less wasted inventory and greater profits.
Trust the accuracy of your forecasts. Plan promotions and price changes that will get the desired response from customers. And avoid lost sales, out-of-stocks and other casualties of inaccurate forecasts. Only SAS enables you to:
Produce more accurate forecasts across all your products. A patented statistical forecasting engine uses advanced forecasting methods for modeling and forecasting your entire product portfolio.
Reduce inventory and stock-outs – and boost customer satisfaction. Generate forecasts that reflect the realities of your business so you get the right products to the right locations at the right times.
Take the guesswork out of forecasting. An unmatched library of retail forecasting models take into account underlying trends, seasonality, promotions, inventory effects, etc. And "best pick" functionality automates model selection, so you don’t have to guess which model to use.
Find out what customers want, when they want it and how much they are willing to pay for it. Develop and implement effective, targeted promotions. And know when – and by how much – to mark down prices. Only SAS enables you to:
Quickly evaluate the impact of your pricing decisions on sales and margin. Real-time what-if scenarios let you test different pricing options using any number of constraints so you can choose the one that best meets your goal.
Fully assess elasticity, affinity, cannibalization, cross-category effects and seasonality for each store and each item. High-performance demand forecasting models quickly analyze all relevant data and deliver real-time demand insights.
Develop pricing and clearance strategies that account for store sales volume, inventory and price sensitivity. Our scalable analytics platform lets you optimize revenue, margins and markdown cadence at a store/SKU level.
Read about the four steps to more effective pricing decisions in this RSR report.
Understand your buyers behaviour and maintain your competitive advantage
With the pressure multi-channel consumers are putting on businesses to provide the most relevant and compelling deals 24/7, how can businesses transform to deliver on this customer loyalty and their need and maintain a competitive advantage?
The customer decision making process is now so complex and demanding that many retailers are struggling to answer some fundamental questions: are we giving away margin with promotions based on the wrong pricing decisions? Should we be discounting less to sell more profitably? Are we missing out as a consequence of poor pricing decisions? Are we in danger of diluting customer loyalty?
The answer is two-fold: adopt a customer-centric pricing model and use advanced analytics technologies to understand buyer behaviour and develop relevant pricing and promotional offers.
Choosing the right customer-centric pricing model
There are three pricing models available to businesses: Channel-specific models where pricing is different across different channels; multi-channel models when pricing is the same across channels; or hybrid models when prices are the same across channels but with certain promotional exceptions.
When determining which pricing and promotional strategy to adopt, businesses should apply advanced analytics tools to gain consumer insights into pricing sensitivities and buying behaviours presented by complex channels and multiple price points. This can help to anticipate and predict consumer response to the possible new strategies before they are put into action.
Research shows that pricing is up to 4 times more influential on business profitability, so the need to make more accurate and timely decisions has never been greater. Our modelled analytics approach to your pricing and promotions decisions will give you clarity, granularity and accuracy to gain a lasting a business advantage.
Since working with SAS our pricing strategy and product availability has improved considerably. Profitability from markdown and promotions is up and we’re now confident that our pricing strategy is transparent, granular and optimised.
How to build an effective pricing strategy with analytics
When adopting a new pricing and promotions strategy, businesses should explore the following factors to lower the risk and better manage the transformation journey:
Data management - A technology foundation comprise of a big data infrastructure and an advanced analytics platform can help execute specific pricing and promotions strategies.
Advance analytical methods - A quantitative and qualitative analysis of customers is crucial for businesses to understand the effectiveness of a particular pricing model. A single source of the truth to allow comparative analysis across all channels will provide insight into how you are comparing against your competitors.
Technology - Implement new strategies across multiple systems, including legacy, with advanced optimization software.
Strategic insight - Attract, develop and retain people with advanced analytics skills to analyse and convert data into crisp and actionable insight, and motivate decision makers to make insight-driven decisions.
Continuous test and learn - As customers move from one channel to another, companies can test new prices, measure customer responses in real-time and optimise their pricing and promotions accordingly.
When pricing insights are incorporated into daily business processes, strategic decisions can be made with greater confidence. In an era where consumers are constantly seeking the best deal, an analytics approach to developing a pricing and promotions strategy can no longer be looked at as an option. Pricing analytics is quickly becoming an essential business driver due to the insights and competitive advantage it can offer.
Is your business optimised through analytics to be in the best position possible for delivering and balancing consumer loyalty and business profitability?