The Profitable Retailer
The retail industry is a fast and competitive space. The age of the empowered consumer, enabled with fingertip technology through smart phones is one reason why. Some suggest that this scenario has retailers worried, and it does, especially if efforts are not made to ensure the delicate thread of supply chain, merchandising, and marketing are in sync to enable profitability in retail. With the rise of multi channel and the empowered consumer, it’s more important than ever to strive for excellence in business processes.
The common thread that can enable profitability across the business is data… good, clean data. From customer, to product/material, to vendor, clean data is critical to ensuring supremacy in performance. In this sense, the vastly growing data that lives in multiple systems in your organization is a gold mine. Harnessing this data can help transform the foundation of a retailer’s business decisions and enable sales growth and profitability. Knowing and understanding your customers, products, and vendors can add millions of dollars to your bottom line and position you to compete better over time.
SAP Retail and Utopia Inc. are teaming up to provide a free webcast on the 7th of September that will deal with this topic and provide valuable insight into best practices for success in this area. You will learn from Retail Industry and Data Quality experts, Gerry Yeo and Frank Dravis about:
- Key retail-industry trends and opportunities
- How consolidating product and vendor data is key to success in retailing
- How to overcome obstacles in data quality to enable data governance
You can register for the webcast here https://www2.gotomeeting.com/register/509667443
A timely post, especially in the era of #bigdata and #mobility.