Using data-driven insights to enable better business outcomes
How a leading retailer optimized its inventory management
While “service, choice, convenience” may not have quite the same ring as the real estate adage “location, location, location,” retailers should start embracing this mantra as they seek to cater to the demands and expectations of today’s consumers.
Increased digitization and online commerce have led to a proliferation of services and platforms offering greater choice and convenience. Not only are retailers expected to carry the assortment of products their customers want, but they are also under pressure to offer services such as expedited or same-day shipping, free returns, and other perks along the path to purchase.
Delivering this kind of frictionless customer experience while maintaining or enhancing margins is a challenge for retailers.
Follow the journey of a mid-size retailer as they navigate machine learning (ML) integration, invest in data science capabilities, and mine big data to better connect, optimize, and automate their operations.