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For sellers, enhancing their universal planning capabilities is a essential need in meeting consumer demand. Staying in-stock with accurate and well timed forecasts whereas minimizing provide chain fees and excess inventories has by no means been extra critical.
When it involves planning, most marketers would like the capacity to:
to meet these requirements and bring stronger retail forecasting accuracy, IBM and SAP are teaming as much as present the IBM Cognitive Demand Forecasting (CDF) solution, using computer studying and climate data to give retailers potent new insights a good way to drive improved enterprise efficiency.
The forecasting engine for this new cognitive demand forecasting solution is provided by way of SAP’s Unified Demand Forecast (UDF). UDF is a part of the SAP client recreation Repository utility, which collects client facts for use within the retail trade. UDF offers demand modeling and demand forecasting features.
Demand modeling takes ancient demand information supplied as input, after which explains the old revenue and the have an effect on that each and every demand influencing element (DIF) had on consumer demand during the past. Examples of a DIF consist of expense adjustments, promotions, tactics, seasonality, public vacations, or fashion. Unified Demand Forecast then uses the results from demand modeling and is given inputs — such as deliberate promotions and costs — to predict the effects of equivalent DIF occurrences sooner or later. These inputs allow the equipment to derive future demand forecasts.
The IBM CDF answer will deliver hyper-native external information from IBM weather company to raise the UDF modelling system. climate plays a major role in retail sales across many classes and can now be modeled up to seven months sooner or later. the usage of both artificial intelligence (AI) and climate data makes it possible for the CDF solution to normally enrich forecasts and the retail planning process.
The advantages consist of a precise and at all times improving forecast that allows:
The forecasting framework gives a versatile and configurable engine that allows marketers to examine the exterior demand impact factors to be recorded in the equipment and to be used at merchandise or sku degree. for instance, figure 1 indicates the correlation between tomato soup and the climate advice on a weekly groundwork.figure 1: Correlation between historic sales of tomato soup and the native temperature
The IBM CDF and the Unified Demand Forecast in SAP consumer undertaking Repository are designed to automate the standard method to support retailers, planners, category managers, and the marketing department, equipping them with insights to increase their resolution-making manner. with the aid of leveraging improved forecasted consequences, marketers can now increase their seasonal planning functions, together with season merchandise and assortment planning, in-season store replenishments, and seasonal and weekly promotions planning.
With the prediction from the embedded Unified Demand Forecast in SAP customer exercise Repository, the IBM CDF answer provides distinct analytical capabilities, which contains a detailed decomposition of the mannequin and forecasted values. As outcome, advertising, planners, and merchants may have a accomplished photo that includes base ancient earnings, costs and promotions, channels, vacation trips, seasonality, and climate. figure 2 is one illustration of the bendy decomposition analytical framework.determine 2: specific Forecast analysis and Decomposition
IBM CDF is in keeping with imaginitive solutions from IBM and SAP, together with SAP Leonardo, SAP Cloud Platform, SAP S/4HANA Retail for merchandise management, and SAP S/4HANA for trend and vertical company, as smartly because the IBM climate business, to provide a unified and more accurate demand forecasting to retail for all retail planning capabilities in response to computer gaining knowledge of. All this builds on omnichannel capabilities and deep industry insights from IBM capabilities and the SAP trade enterprise unit
let us display you the way the IBM CDF answer will also be built-in into your SAP S/4HANA and SAP consumer undertaking Repository installation, and assist you seriously change clever insights into ecocnomic movements. Please discuss with ibm.com/features/sap, their joint web site, or contact an IBM or SAP skilled to be taught extra.
Steve Laughlin is prevalent supervisor of world purchaser trade at IBM.Achim Schneider is vice chairman and world head of Retail company Unit at SAP.
April 30, 2008 03:00 ET
ARMONK, the big apple--(Marketwire - April 30, 2008) - IBM (NYSE: IBM) these days introduced that it is going to work with StoreNext Retail technologies LLC, a subsidiary of Retalix Ltd. (NASDAQ: RTLX), to market pre-packaged retail solutions powered with the aid of IBM factor-of-sale methods for unbiased and regional chain grocers.
StoreNext is the industry's main enterprise of retail technology to unbiased grocers, and it's the best retail IT company that focuses completely on meeting the wants of the wholesaler-served market of independent grocers and regional chains.
StoreNext will now add IBM point-of-sale (POS) terminals to its solutions portfolio. Retalix and StoreNext application applications on powerful IBM POS units will supply customers better flexibility and choice to satisfy their IT requirements, and enable StoreNext with IBM to prolong its management to untapped markets in this area.
"here is an exciting possibility for us," mentioned John Gaydac, vp, IBM Retail save answer income, Americas. "we're glad to be working with a market leader like StoreNext and its broker network to lengthen their attain into the SMB market. StoreNext's grocery purposes coupled with IBM hardware permit each companies to better serve this crucial phase, and adding this new channel and solution to their existing ACE independent grocery providing gives impartial grocers with the widest set of solutions feasible."
"It become time to prolong the IBM-Retalix relationship by pairing StoreNext's utility with IBM's terminal hardware," mentioned Ray Carlin, president and CEO of StoreNext. "The market is stressful hardware option, and this partnership will convey astonishing value and a powerful brand to key market segments comparable to comfort shops and unbiased grocers."
The agreement requires StoreNext to market IBM SurePOS retail terminals with StoreNext ISS45™ and ScanMaster® grocery element-of-sale software options. The enterprise will also bundle the IBM structures with the Retalix StorePoint™ POS solution for the comfort-gasoline retail market.
The ScanMaster and ISS45 methods are entirely built-in with IBM's SurePOS 300, SurePOS 500 and SurePOS seven hundred terminal strains. the new grocery programs are available immediately from StoreNext's nationwide reseller network. techniques combining Retalix StorePoint C-shop software with the IBM hardware can be launched this summer.
With this announcement Retalix/StoreNext becomes the first solution company to be a part of the IBM Retail save options business Remarketer software, additionally announced these days. The collaboration with IBM offers StoreNext dealers access to the business's leading element-of-sale know-how. It permits IBM to prolong its reach into the unbiased grocery section via an extensive StoreNext community of local dealers serving a variety of customers, from the smallest unbiased store operator to grocery chains of up to 100-plus retailers.
The announcement is a part of a worldwide IBM crusade to create and deliver gold standard, in your price range, easy-to-put into effect solutions for small to mid-sized agencies, some of the industry's quickest starting to be IT segments.
In January, IBM announced a joint initiative with Retalix, StoreNext's Israel-based mostly parent company, to deliver built-in commercial enterprise administration solutions according to the IBM faraway management Agent and Retalix automatic utility to aid grocery and comfort save valued clientele centrally manipulate their aspect-of-sale systems, purposes and different elements of their retail records centers.
StoreNext Retail technologies LLC is the main supplier of retail technology to independent grocers and regional chains. based mostly in Dallas, Texas, StoreNext is a subsidiary of Retalix (NASDAQ: RTLX) and markets POS hardware, Retalix's ISS45 and ScanMaster POS software, Retalix store and Retalix HQ, in addition to internet linked functions for managing shops by the use of web-enabled functions. StoreNext is the IT enterprise it's dedicated to meeting the wants of this wholesaler-served market with packaged solutions that had been in the past obtainable, cost-effective or functional most effective for colossal chains. For more tips, please consult with www.storenext.com
Retalix (NASDAQ: RTLX) is an impartial provider of software solutions to sellers and distributors global. Retalix options serve the needs of grocery chains, comfort and gas agents, meals and purchaser goods distributors and impartial grocers. The enterprise presents a portfolio of utility functions that automate and synchronize basic retail and supply chain operations, encompassing stores, headquarters and warehouses. The company's foreign headquarters can be found in Ra'anana, Israel, and its American headquarters are located in Dallas, Texas. For greater assistance about Retalix, please consult with www.retalix.com
For additional info please talk over with www.ibm.com
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The Accenture Cloud Retail Execution and Accenture Cloud Trade Promotion Management solutions combine Accenture’s front office consumer goods industry expertise with Salesforce’s leading cloud platform to transform the sales and marketing processes of the consumer goods industry.
Help create stronger customer connections with Accenture Cloud Retail Execution by empowering management and field sales teams to deliver more targeted, consistent, compliant and successful promotions resulting in brand growth…The solution provides broad functionality to enable users to plan effectively, complete surveys, identify out-of-stocks and take orders.The Accenture Cloud Trade Promotion Management solution enables Consumer Goods executives to effectively plan and make more informed promotion decisions. To be able to tweak events as they are happening, based on real-time information can boost trade promotion revenue, volume, profit and market share, while reducing costs through increased efficiencies such as inventory management and retailer compliance.Ultimately, helping executives accurately identify when, where and how to stage the most profitable promotions to deliver high performance for their organizations and retail partners.
Plan and develop winning promotional campaigns with an overview of trade investments, spending and profitability with Accenture Cloud Trade Promotion Management and empower your management and field sales teams to help deliver more targeted, consistent, compliant and successful promotions with Accenture Cloud Retail Execution.
CIOs in the retail sector are increasingly looking to location analytics provided by sophisticated Wi-Fi marketing solutions to address digital transformation.
This is the view of Wade Gomes, Sales Director of Corr-Serve, a local value-added distributor that represents Cloud4Wi in the South African market, a leading provider of location analytics and marketing solutions. Research firm, Forrester, uses one of Cloud4Wi’s clients, the Prada Group, in its report: “Digitally Transform In-store Experiences with Sensor-Based Technology and Analytics”, as an example of a retailer creating superior in-store experiences using Wi-Fi.
According to Forrester, “Retail stores have been living in an analytical ‘dark age’ compared with digital channels, relegated to measurement techniques that rarely consider customer behaviour. However, advances in in-store customer sensor and analytics technologies are transforming how digital business professionals and retailers win, serve, and retain customers within the physical store.”
Cloud4Wi offers an AI-driven product suite for location analytics. With Cloud4Wi, retailers can collect anonymized customer insights through their in-store Wi-Fi services. For customers who opt-in, retailers can create unique customer profiles that include offline behavioural characteristics — and do so in compliance with GDPR.
“Prada provides a good example for retailers looking to boost customer experience and improve customer onboarding by providing free Wi-Fi services to in-store customers — and to use the Wi-Fi signals to track in-store behaviours,” adds Forrester.
“South African retailers have an enormous opportunity to improve customer experience by leveraging the power of analytics when providing in-store or in-mall Wi-Fi services,” concludes Gomes.
Edited by Daniëlle KrugerFollow Daniëlle Kruger on TwitterFollow IT News Africa on TwitterComments
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Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of their article on the benefits of retail analytics in boosting business outcomes. This article highlights the impact that leveraging retail analytics solutions can have on businesses. It also gives an overview of how retail analytics can help businesses in developing successful cross-channel and multi-channel retail strategies and offers actionable insights into customer preferences and demands.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190213005507/en/
Over the past few years, the retail industry has grown steadily owing to the popularity of online shopping. But with this rapid growth of the business, the retail sector is facing serious challenges too such as maintaining an online presence, improving customer experiences, keeping pace with consumer demands and staying ahead of rivals in the competitive landscape. Even top retail businesses face hurdles while utilizing retail analytics for the growth of their business and driving profitability.
Are you finding difficulties in devising marketing strategies for your business? Get in touch with their experts and know how their retail analytics solutions can help you gain actionable insights.
Benefits of retail analytics:
Enhances store performance
Retail analytics helps retailers in understanding and analyzing in-store customer behaviors. Additionally, it also helps retail businesses in tracing their shopping patterns and dwelling times. Furthermore, uncovers huge opportunities for all kinds of retail operations for individual stores as well as shopping malls. Also, by examining retail sales trends, retailers can assess the best staffing options, the most appealing design techniques, and the most effective selling tactics.
Identifying ready-to-buy customers can help companies to plan their marketing strategies efficiently. To know how their retail analytics solutions can empower your business with real-time decision making, request a free proposal.
Improves business decision making
Retail analytics help retail companies to dig deeper into the customer data to make wise and informed decisions. Furthermore, by leveraging retail analytics solutions, retailers can make better pricing decisions through price monitoring. This not only helps them sell the right product at the right price but also offers granular insights into business processes to improve the overall business outcome...
Still not sure how retail companies can understand, streamline, and improve their sales processes by leveraging retail analytics solutions? Request for more information.
Optimizes customer experience
Retail analytics can be utilized to boost the shopping experience by solving customer problems in real time. Also, it enables companies to deal with out-of-stock situations. Moreover, by assessing the customers’ purchasing behavior, retailers can cater to their needs by offering the products they want at the most appropriate time.
Want to curate, process, and analyze huge customer data by utilizing retail analytics techniques? Request a free demo now!
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, they have assisted their clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, their firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on their engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20190213005507/en/
SOURCE: Quantzig"> <Property FormalName="PrimaryTwitterHandle" Value="@QuantZig
QuantzigAnirban ChoudhuryMarketing ManagerUS: +1 630 538 7144UK: +44 208 629 1455https://www.quantzig.com/contact-us
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Filemaker [9 Certification Exam(s) ]
Financial [36 Certification Exam(s) ]
Food [4 Certification Exam(s) ]
Fortinet [13 Certification Exam(s) ]
Foundry [6 Certification Exam(s) ]
FSMTB [1 Certification Exam(s) ]
Fujitsu [2 Certification Exam(s) ]
GAQM [9 Certification Exam(s) ]
Genesys [4 Certification Exam(s) ]
GIAC [15 Certification Exam(s) ]
Google [4 Certification Exam(s) ]
GuidanceSoftware [2 Certification Exam(s) ]
H3C [1 Certification Exam(s) ]
HDI [9 Certification Exam(s) ]
Healthcare [3 Certification Exam(s) ]
HIPAA [2 Certification Exam(s) ]
Hitachi [30 Certification Exam(s) ]
Hortonworks [4 Certification Exam(s) ]
Hospitality [2 Certification Exam(s) ]
HP [750 Certification Exam(s) ]
HR [4 Certification Exam(s) ]
HRCI [1 Certification Exam(s) ]
Huawei [21 Certification Exam(s) ]
Hyperion [10 Certification Exam(s) ]
IAAP [1 Certification Exam(s) ]
IAHCSMM [1 Certification Exam(s) ]
IBM [1532 Certification Exam(s) ]
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ICAI [1 Certification Exam(s) ]
ICDL [6 Certification Exam(s) ]
IEEE [1 Certification Exam(s) ]
IELTS [1 Certification Exam(s) ]
IFPUG [1 Certification Exam(s) ]
IIA [3 Certification Exam(s) ]
IIBA [2 Certification Exam(s) ]
IISFA [1 Certification Exam(s) ]
Intel [2 Certification Exam(s) ]
IQN [1 Certification Exam(s) ]
IRS [1 Certification Exam(s) ]
ISA [1 Certification Exam(s) ]
ISACA [4 Certification Exam(s) ]
ISC2 [6 Certification Exam(s) ]
ISEB [24 Certification Exam(s) ]
Isilon [4 Certification Exam(s) ]
ISM [6 Certification Exam(s) ]
iSQI [7 Certification Exam(s) ]
ITEC [1 Certification Exam(s) ]
Juniper [64 Certification Exam(s) ]
LEED [1 Certification Exam(s) ]
Legato [5 Certification Exam(s) ]
Liferay [1 Certification Exam(s) ]
Logical-Operations [1 Certification Exam(s) ]
Lotus [66 Certification Exam(s) ]
LPI [24 Certification Exam(s) ]
LSI [3 Certification Exam(s) ]
Magento [3 Certification Exam(s) ]
Maintenance [2 Certification Exam(s) ]
McAfee [8 Certification Exam(s) ]
McData [3 Certification Exam(s) ]
Medical [69 Certification Exam(s) ]
Microsoft [374 Certification Exam(s) ]
Mile2 [3 Certification Exam(s) ]
Military [1 Certification Exam(s) ]
Misc [1 Certification Exam(s) ]
Motorola [7 Certification Exam(s) ]
mySQL [4 Certification Exam(s) ]
NBSTSA [1 Certification Exam(s) ]
NCEES [2 Certification Exam(s) ]
NCIDQ [1 Certification Exam(s) ]
NCLEX [2 Certification Exam(s) ]
Network-General [12 Certification Exam(s) ]
NetworkAppliance [39 Certification Exam(s) ]
NI [1 Certification Exam(s) ]
NIELIT [1 Certification Exam(s) ]
Nokia [6 Certification Exam(s) ]
Nortel [130 Certification Exam(s) ]
Novell [37 Certification Exam(s) ]
OMG [10 Certification Exam(s) ]
Oracle [279 Certification Exam(s) ]
P&C [2 Certification Exam(s) ]
Palo-Alto [4 Certification Exam(s) ]
PARCC [1 Certification Exam(s) ]
PayPal [1 Certification Exam(s) ]
Pegasystems [12 Certification Exam(s) ]
PEOPLECERT [4 Certification Exam(s) ]
PMI [15 Certification Exam(s) ]
Polycom [2 Certification Exam(s) ]
PostgreSQL-CE [1 Certification Exam(s) ]
Prince2 [6 Certification Exam(s) ]
PRMIA [1 Certification Exam(s) ]
PsychCorp [1 Certification Exam(s) ]
PTCB [2 Certification Exam(s) ]
QAI [1 Certification Exam(s) ]
QlikView [1 Certification Exam(s) ]
Quality-Assurance [7 Certification Exam(s) ]
RACC [1 Certification Exam(s) ]
Real-Estate [1 Certification Exam(s) ]
RedHat [8 Certification Exam(s) ]
RES [5 Certification Exam(s) ]
Riverbed [8 Certification Exam(s) ]
RSA [15 Certification Exam(s) ]
Sair [8 Certification Exam(s) ]
Salesforce [5 Certification Exam(s) ]
SANS [1 Certification Exam(s) ]
SAP [98 Certification Exam(s) ]
SASInstitute [15 Certification Exam(s) ]
SAT [1 Certification Exam(s) ]
SCO [10 Certification Exam(s) ]
SCP [6 Certification Exam(s) ]
SDI [3 Certification Exam(s) ]
See-Beyond [1 Certification Exam(s) ]
Siemens [1 Certification Exam(s) ]
Snia [7 Certification Exam(s) ]
SOA [15 Certification Exam(s) ]
Social-Work-Board [4 Certification Exam(s) ]
SpringSource [1 Certification Exam(s) ]
SUN [63 Certification Exam(s) ]
SUSE [1 Certification Exam(s) ]
Sybase [17 Certification Exam(s) ]
Symantec [134 Certification Exam(s) ]
Teacher-Certification [4 Certification Exam(s) ]
The-Open-Group [8 Certification Exam(s) ]
TIA [3 Certification Exam(s) ]
Tibco [18 Certification Exam(s) ]
Trainers [3 Certification Exam(s) ]
Trend [1 Certification Exam(s) ]
TruSecure [1 Certification Exam(s) ]
USMLE [1 Certification Exam(s) ]
VCE [6 Certification Exam(s) ]
Veeam [2 Certification Exam(s) ]
Veritas [33 Certification Exam(s) ]
Vmware [58 Certification Exam(s) ]
Wonderlic [2 Certification Exam(s) ]
Worldatwork [2 Certification Exam(s) ]
XML-Master [3 Certification Exam(s) ]
Zend [6 Certification Exam(s) ]
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