Big Data provider, Manthan has announced the latest release of its flagship product, Retail Analytics. The new release enables omnichannel retailers leverage advanced analytics to optimize their merchandising, operational and sales strategies across their point of sale and distribution channels. Combined with the product’s customer centric merchandising capability, it offers retailers the power to make assortment, inventory, pricing and promotion management decisions based on their customers’ channel preferences.
Devising an optimal merchandising strategy with the ability to forecast demand based on customer channel preferences is a key requirement for omnichannel retailers in today’s connected world. The new version of Retail Analytics provides retailers with comprehensive, holistic analysis of demand by customer segments, geographies, promotions and events across all online and offline channels. By forecasting demand across channels using advanced analytics, retailers can devise appropriate dynamic inventory, replenishment, distribution and fulfilment strategies to drive better performance.
Additionally, they can also create assortment and affinity models optimized for each channel as well as regional store clusters using machine learning algorithms based on customer purchase patterns.
“A single, holistic view of performance across all channels will significantly enhance omnichannel retailers’ ability to hone their merchandising strategy using a combination of diagnostic and predictive analytics. Essentially making the right product available through the right channel at the right price will give retailers the competitive edge”, said Sameer Narula, Vice President, Products, Manthan.
The new release of Retail Analytics is powered by the latest version of Manthan Analytics platform that has enhanced capabilities including support for machine learning algorithms, enhanced data discovery features, connector to Tableau 10 for rich data visualizations and enhanced in-memory technology for improved performance.