The quantity of data managed by Retailers’ Teams, from Merchandizing to Marketing to Store Operations or E-Commerce Teams, never stops growing.
These data are to be used to analyze situations, sometimes predict outcomes. Which leads to data’s most important benefit: support decision making & execution.
Too Often, Retailers 'Teams become overloaded with these data flows. They often lack the time & expertise to organize, structure, clean & enrich these data timely and accurately. The consequences can be felt immediately on the quality of the decisions taken: range evolution, overcrowded shelves, pricing, ...
Subcontracting Data Management is an option increasingly used by retailers palliate these shortcomings. Its key benefits are:
1. Keeps Data Updated – From New Items management to the 1 in 1 out rule, ranges, prices, promotion details are timely maintained with direct impact of Sales, Stock and Margin.
2. Keeps Data accurate – From supplier details to products item masters and logistics info, decisions taken on segmentation, business performances, pricing adjustments, or supply chain are precise.
3. Keeps Data Accessible- Effective data management requires smart tools for teams to access all the data they need for better decision. Data is not an IT area anymore; it is pure commerce.
4. Keeps them Safe – From the unwanted data deletion to the multi-layer security levels to encryption, data security should not be a worry at all.
When you select your data management partner, ensure that they are not only a company with outstanding Tech and Data management Skill. Make also sure that they know your business and your industry: they will know the importance of each data sets and provide you with the right management tools. And maybe most importantly, they will provide you suggestions on how to continuously improve the ROI of your data, internally and externally.
HPT Consulting is the leading Digital Transformation platform for Retailers in South East Asia.. We help Category Managers Retail Analysts, Sales Manager, and Senior Managers organize, structure, enrich their data, and automate their business processes to take better decisions and actions for their consumers and shoppers.