If you are a planner or merchandiser at a large Department Store, having sales and plan data that you can trust is critical to your job. Not only do sales and management directly and dramatically affect a Store’s bottom line, but they are also inextricably linked. Poor sales management makes effective planning practically impossible and it works the same in reverse.
Unfortunately, ensuring that the sales and inventory data you rely on accurately reflects the state of your sales and merchandising is no trivial task. Department Stores generate a staggering amount of sales & data (mobile, web, brick and mortar + constantly changing inventories) that needs to be analyzed. Because this data sits in many disparate Point of Sales and inventory systems, large-scale data integration needs to happen before this data analysis can take place. As a result conducting the data analysis necessary to find the events, spikes and drops that signal that your inventory and sales plans are off track.
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Today’s story involves a Department Store that leveraged Outlier to discover that their sales had suddenly plummeted below the expected sales plan. While the store would have eventually seen the issue in larger, less frequent reports, Outlier discovered the issue overnight, for specific category of merchandise. As a result the client was able to make adjustments to their supply chain partners and adjust inventory swiftly.
Outlier caught a decrease in inventory that if not corrected quickly, could have cost this retailer 1000s of dollars per day in each of their 2500 stores. The merchandising and inventory teams were able to communicate the shortage and re-stock as quickly as the customers’ behavior had changed. This effort helped the Department store save money and reduce losses.
Outlier can save you hours, days, or weeks. Just point Outlier at the data you want to analyze and get results back immediately. Outlier empowers businesses to take a deeper look at their data and uncover unexpected trends that can lead to revenue increases. Sign up for a custom demo to see how.