Product Intelligence Application

Industry Retail
Region Global
Solution 360-degree Product Intelligence Application
Context
Product performance reporting holds immense importance for retailers, offering insights into consumer behavior, market trends, and the success of specific products or collections. Yet, many still rely on traditional methods like Excel sheets to gather and analyze this critical data, leading to inefficiencies, limited visibility, and delays in decision-making. Retailers must instead leverage advanced analytics to gain the ability to swiftly interpret data, optimize inventory management, and identify emerging trends. 
Problem statement

Our client, a prominent global fashion retailer, was facing redundancies and inefficiencies as their Merchandising heads were all using different tools to track product performance. The client was looking for a single-source tool that would allow global leadership and regional merchant teams to view assortment health by analyzing product KPIs, plan for production and inventory, enable product growth, and reduce risk factors.

Impact

  • Facilitated cost reduction of $500k
  • Enabled over 20k decisions using insights from the tool
  • Decreased the time required to generate reports
  • Reduced the risk of misinterpretation by standardizing KPIs
  • Supported revenue uplift by 0.03 – 0.3%
  • Generated an NPS score of 9.2 across all users
  • Provided executive visibility on product performance across geographies for a comprehensive business outlook

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