Empowering Retail Insights with a Data-Driven Transformation
A major Australian fashion retailer sought to optimise merchandise reporting, elevate data insights and enhance store performance tracking. Cevo was engaged to transform the retailer’s reporting capabilities by migrating to a unified cloud-based SaaS platform, implementing advanced data visualisation tools, and democratising data access. This comprehensive solution aimed to cultivate a culture of data literacy within the organisation while unlocking actionable insights for strategic decision-making.
Enterprise analytics environment
Cloud-based SaaS platform
More than 200 users
Engaged on the platform
Retail
Industry
Business challenge
In today’s dynamic retail landscape, it’s important for retailers to leverage data insights to effectively meet the needs and preferences of their customers while maintaining a competitive edge. This leading Australian fashion and homewares retailer recognised the need to deepen its understanding of customer buying behaviours, which meant the innovation of data initiatives to surface and share information quickly.
Specifically, the retailer’s merchandise and retail operations teams were facing challenges in generating timely insights. The merchandise teams sought to understand the performance of their top-selling and underperforming items to help with inventory management based on style, colour or individual product performance. Meanwhile, the retail operations team aimed to enhance their store performance tracking, including metrics like foot traffic, conversion rates, and sales effectiveness to gain a holistic understanding of profitability of all store locations, and implement appropriate measures to address any issues.
Despite having existing reporting and data visualisation tools in place, they weren’t being leveraged to their maximum potential, meaning the organisation was missing out on a crucial opportunity to be able to extract actionable insights from its data. There was also a growing demand among the retailer’s personnel to access data on mobile devices and get reports and insights beyond the limitations of the current reporting system.
Solution
The Australian retailer embarked on a data transformation initiative to modernise their approach to data management, analytics and organisational capacity to unlock the full potential of their data assets and drive informed decision-making across the organisation. Cevo’s role in this project was pivotal as we helped to migrate the retailer’s reporting tools from an on-premises solution to a single, unified cloud-based SaaS platform.
The transition was rolled out in phases to minimise disruption to ongoing operations. Cevo leveraged existing AWS data pipelines and the data lake infrastructure to enable seamless integration with various data sources and create a reporting layer for business consumption.
The solution has empowered the retailer with insights into stock levels, sales trends and customer preferences, while also significantly reducing the hours previously spent by their staff on report creation. These insights encompass store rankings within and across regions, store traffic patterns, and inter-store metrics, enabling the retailer to optimise staffing levels and benchmark performance between stores.
Cevo has also fostered a data-centric culture in the retailer through continuous improvement initiatives and user engagement through feedback loops. Cevo has also enabled the accessibility of insights via mobile devices and provided comprehensive training and support to their staff to ensure smooth adoption and utilisation of the new reporting tool. These efforts have enhanced overall data literacy within the organisation, fostering deeper engagement with the reporting platform and paving the way for sustained data-driven decision-making capabilities.
Outcomes
The collaboration with Cevo has enabled the retailer to successfully transition to an enterprise analytics environment with more than 200 head office users currently engaged on the platform, with a future expansion to allow over a thousand stores around the globe having their store performance insights on their fingertips.
In summary, Cevo’s involvement with the uplift of the retailer’s analytics capability has brought about the following results:
- Enhanced merchandise reporting capabilities for more than 50 current users, including comprehensive analyses of top and bottom-performing items, stock on hand analysis, and real-time store traffic data.
- Improved utilisation of data visualisation tools, with the introduction of image rendering for top-performing products and interactive dashboards for store managers.
- Democratised data access and increased platform engagement throughout the organisation, with a notable increase in active users and enhanced data literacy across various departments.
- Strategic insights derived from merchandise reporting and store performance metrics, enabling data-driven decision-making, optimising merchandising and marketing strategies, and driving sustainable sales growth.
- Ongoing evolution of reporting tools and data infrastructure, with a focus on scalability, efficiency, and continued enhancement of data insights for the organisation’s strategic goals.
- Improved capability to track store performance metrics, including Net Promoter Scores and loyalty sign ups, providing insights to guide future strategic initiatives and enhance the customer experience.
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