Step 6: Unlock the value of data
- Enhanced Spend Visibility: gain faster, more accurate, and more detailed classification; more easily navigate spend by category, supplier, business unit and geography
- Powerful, actionable insights: using Deloitte’s supply market intelligence to deliver more powerful, predictive insights
CognitiveSpend is Deloitte’s proprietary spend analytics solution. The solution is able to rapidly classify complex transaction data using AI and machine learning. The solution not only delivers robust spend visibility, but also outlines what actions can be taken to realise savings and reduce risk exposure. The solution creates visibility across entities and functions, identifies savings and risk mitigation opportunities.
- Increases profitability: We typically achieve 7-10% margin improvement through markdown optimization, with £100+ million of benefits to our clients recorded last year. Cash benefit hits the bottom line within weeks of deployment
- Saves time: We deliver an estimated 15% time savings for teams
- Improve forecasting and planning: Our tool can quantify and forecast the impact of price changes. We also offer advisory services to fix upstream issues and help retailers reduce the amount of clearance they need to do longer-term
MarkdownEdge helps retailers manage their end of season discounts by optimizing the tricky balance between maximizing price and minimizing wastage. The solution uses historical product data (sales, stock, pricing) and predictive modelling techniques to optimize product markdown depth, timing and frequency to balance margin and sell-through targets.
Improve overall promotion strategies and processes
- Assists with managing stock levels
- Generates additional margin without cannibalising future sales
- Improve the return on invested promotion spend
- Improves customer retention and acquisition
- Improve messaging of marketing promotions
PromoEdge helps Deloitte’s retail clients maximize effectiveness of promotions by providing the best discounting recommendations(both pricing and product selection) through a combination of advanced analytics and consultancy support. Deloitte’s offering is a combination of advisory services underpinned by machine learning technology which are configurable to meet diverse client business requirements.
- Increase in in-store conversation rates
- Increase in store operating efficiencies which also translate into supply chain efficiencies
- Transparency in operating performance of stores providing actionable insights
- Deeper understanding of consumer profiles which allow our clients to enhance marketing campaigns
Shopalytix helps retailers gain robust insights on their in store shopper so they can seek to identify, implement and measure the effects of optimising the store. It enables customer experience experimentation to deliver a frictionless shopping experience and to maximise conversion. The suite of analytical tools can measure metrics such as number of visitors, “bounce rate” – first 25 feet, “pages” or hotspots viewed, dwell time, demographics and the physical sales funnel.
Deloitte Assortment Solution (DAS)
- Operational efficiencies: reduction in manual workload including optimised assortments, visibility of assortments across all channels, improved inventory levels
- Financial efficiencies: improved sell through rate, increased sales numbers, reduced markdowns, improved inventory productivity and reduced working capital
DAS gives retailers a tool to optimise assortments. It is a digital cloud-based tool that leverages real-time smart analytics for both e-commerce and brick and mortar stores. The solution leverages industry leading practices to increase speed to value by including consistent assortment calculations, stratifying purchasing quantities against projected sales, and the availability to perform roll-ups and reporting. It directly turns advanced analytics into insights by providing flexible views to better understand performance. It uses in-memory computing to allow for real-time interaction when data and activities are passed between systems and people.
CPG Promo Analyser
- Increase understanding of market positioning and potential opportunities to shift focus
- Informed decision making on where to target efforts to drive more value in promotional spend
- Ability for clients to model the optimal discounting and rebate strategy to take to their different channels
The CPG Promo Analyser enhances the speed and quality of promotional decision making through an innovative modelling approach. The solution consolidates external and internal source data into an analytics engine which performs descriptive and predictive analytics as well as performance monitoring to produce actionable dashboards, decision workflow diagrams and scenario builders.
- More informed strategic decisions on how to maximise performance, optimise marketing and track market share
- Better understanding and evaluation of future whitespace opportunities based on key market metrics enabling clients to make informed capital investment decisions minimising risk
- Deeper understanding on the ROI and key performance drivers of different store sites
LocationEdge is designed for businesses to analyse their property estates and enhance the speed and quality of their insights through the understanding people and places. The solution answers the core geospatial questions faced by businesses, using data science to provide insight into strategic decision making, around how our clients should shape their market offerings. By using open data, proprietary integrated data, exclusive spend and movement data and client specific data, Deloitte can help clients to understand and optimise outlet performance and location.
- Price: Understand how pricing varies across the key luxury goods markets.
- Compare: Segment and compare brands by price position and inventory size.
- Competition: Identify key competitors and whitespace opportunities by looking at pricing architecture by brand.
- Market: Focus in on a single market.
- Analysis: Analyse a brands geographic reach.
For high-end fashion and luxury brands, international pricing strategy has become increasingly challenging. Failure to manage price arbitrage across different international markets can impact demand, margin and brand image. As luxury consumers continue to become more mobile – digitally and physically – this challenge will continue to be front of mind for executives leading fashion and luxury brands.
Welcome to the future of luxury pricing with BenchMarque; providing unparalleled insight into pricing trends, analysing over 100,000 products across the global luxury market each week.
Next Best Message (NBM)
- Drive sales through highly personalized marketing
- Identify individual tastes and preferences
- Produce marketing messaging that is unique to them
- Deliver a more relevant message to the customer
- Improve customer satisfaction and brand affinity, sales uplifts, cost savings
- Remove wasted communications
- Personalised 1 to 1 targeting of messages for each customer
Next Best Message is an innovative analytics solution that helps retailers and other consumer businesses deliver the most relevant marketing messages to their customers across all channels. This is a subscription based model.
Cognitive Risk Sensing Platform (CRISP)
- Stream and aggregate various social media sources into a single data warehouse
- Determine which products and brands are associated with each social media narrative (e.g. Tweet) streamed in.
- Identify and tag potential risks implied by social media narratives.
- Generate regular alerts for each product and / or brand to notify the user immediately when social media chatter around a certain risk profile is increasing.
- Generate action items to proactively mitigate risks.
Cognitive Risk Sensing Platform (CRISP) leverages structured and unstructured data to understand various risks that affect some of our largest clients, giving them better tools to anticipate and manage risk. The solution provides new approaches necessary to keep up with the growing volume of social and traditional media data.
- In-store productivity and operations
- Streamline and enhance consumer online and offline experiences
- Enables intelligent decision making through system automated processes
RetailMe is a part of Deloitte’s Retail360 offering which provides a comprehensive set of capabilities for a true consumer centric digital an analytics transformation in retail.
RetailMe unifies marketing, commerce and service capabilities into a single, mobile-first, connected retail platform. It is a Salesforce powered digital ‘mobile-first’ B2C solution that provides consumers with immersive & personalized in-store shopping experiences, while helping improve in-store associate productivity and operations
Using internet of things, RetailMe elevates the customer experience during their path to purchase and closes the gap between consumers’ digital behaviors and the retailers’ ability to deliver at the right time and place.
- Helps clients to make informed decisions on their store networks based on multi-dimensional data analysis
- Provides clients with actionable predictions on future revenue of stores
Map Analyzer facilitates digital transformation of network planning with interactive representations, data analysis and multi-business scenario simulation analysis.
Deloitte China Consulting
LAP 2.0 (Lease Accounting Platform)
- Use data to inform decision making on buy vs. lease options
- To deepen enterprises’ understanding of IFRS16/ASC842/CAS21
- Maximise benefits to reflect the impact of new standards on financial performance of enterprises
- Improve the efficiency of lease accounting and hence save operational costs
The LAP 2.0 (Lease Account Platform) is a one-stop platform to analyse the lease items of enterprises and make new estimates and calculations to help customers manage lease item recognition, lease, accounting and other parts of the leasing process. This is a result based on the implementation of IFRS16/ASC842/CAS21 systems which has moved the market from a standard-based pre-research to an integrated user experience.
This approach will integrate traditional advisory services with cloud technologies to alleviate pressure off enterprises who have migrated to the new system.
Deloitte China Consulting
Deloitte China Audit & Assurance Partner