By David Dorf-Oracle on Jul 21, 2015
All the great science described in Unlocking the Secrets of Big Data with Science certainly helps planners make better decisions, but what about the rest of the organization?
Oracle Retail Insights
Oracle Retail Insights provides role-based, mobile-enabled dashboards that illuminate relevant insights for better decisions. The data model is shared with Oracle Retail Advanced Science Engine so less duplication of data is necessary, and there are open integration points that ease bulk data import and export. It handles three types of analytics that are key to retailer success:
- Descriptive: what is happening and why?
- Predictive: what will happen and why?
- Prescriptive: how can we influence what happens?
Built on Oracle's Business Intelligence Platform, this solution provides both a wealth of packaged dashboards and the flexibility to create your own using thousands of preconfigured metrics and attributes, along with OBI's abillities to create alerts, export content to MS Office, create static operational reports, and explore your data in "self-service" mode. The specific insights being offered are packaged into three separate cloud services:
This solution provides omni-channel insight into sales, returns, pricing effectiveness, product performance, inventory health, supplier performance, and seasonal impacts. It leverages a balanced scorecard approach to Monday Morning Reporting with direct line-of-sight between corporate objectives and leading and lagging indicators of performance. It reports on year over year comparisons, fast sellers, and potential out-of-stock situations. Many additional metrics are included to help make better merchandising decisions.
By marrying customer data with that of core retail
performance concerns (e.g. product, pricing, promotion, and placement) Oracle
Retail Customer Insights underpins the analytical side of Commerce Anywhere
with deep insights based on thousands of metrics, attributes, configurable
alerts and role-based dashboards. Through performance analysis by segment (e.g. demographic, geographic, psychographic), customer loyalty (RFM) and market basket analysis, this solution helps retailers know their customers, and therefore better serve them.
Advanced Science Insights
This solution provides market basket analysis that helps identify product affinities, halo and cannibalization effects, and how store clusters perform relative to each other. Additionally, it reports on promotion effectiveness, stock turnover, and drive-time across store clusters.
Merchandising Insights and Customer Insights are offered as standalone cloud services, but Advanced Science Insights requires at least one of the other two. All three share the same data model.
These solutions can work with many source systems including Oracle Retail Merchandising System, Oracle Retail Merchandise Financial Planning, Oracle Retail Invoice Matching, Oracle Retail Price Management, Oracle Retail Sales Audit, Oracle Retail Category Management, and Oracle Retail Customer Engagement.