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| ibs ANALYTICS |
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Soft Solutions has
embedded the Retail Forecasting and Optimization Analytics engine in ibs SUITE
in order to respond to its client needs. ibs ANALYTICS, Soft Solutions
proprietary analytics module is based on the latest modeling and optimization
techniques that is integrated in an operational approach. Our Retail Analytics
/ Forecasting solution bridges the gap between scientific results versus
operational requirements.
Today's retail environment is such that
demand intelligence plays a vital role as retailers strive to optimize the many
daily business decisions regarding prices, promotions, assortments and
replenishments. With Soft Solutions embedded retail analytics engine, our
clients take advantage of the combined benefits of an excellent operational
merchandising application suite enhanced by the analytic capabilities of the
forecasting and optimization engines.
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Retailers
benefit from the latest in modeling and optimization techniques that allow them
to see the results of the engine directly incorporated into the merchandising
suite, thus providing better comprehension of the analytical dimension in the
role of operational requirements. It is possible for category managers and
buyers to work using traditional rules-based processes and incorporate the
forecasting and analytical intelligence capabilities when they are require
them.
ibs ANALYTICS is dedicated to modeling customer data and consumer
demand for use by any application of the Soft Solutions merchandising suite
like the forecasting sales demand for Pricing and Promotions needs or
optimizing promotion frequency or prices. It allows retailers to forecast
sales, price elasticity and promotions demand at the different levels of
granularity: Item / Store, Item / Group of Stores, Group of Items / Store and
Group of Items / Group of Stores directly during the planning and merchandising
process.
KEY FEATURES
Ibs ANALYTICS provides modular and
configurable capabilities that adapted to the business
requirements:
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| ibs ANALYTICS - Data
Definition and Classification |
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- Data cleansing controls
are applied to integrated data at various steps of the process |
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- Advanced Stores and Items
Sampling (Panel) are used to master the amount of data required |
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- Data Mining techniques
are also integrated to data classification process |
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| ibs ANALYTICS - Analytical
Model Building |
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- Methods used include
known and adapted non-parametric, statistical and panel techniques |
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- Calculate indicators
required for forecasting and optimization such as seasonality, trend,
elasticity |
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Considerations that are
taken into account: |
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- New
Products |
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- Slow
Movers |
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- Calendar
impact |
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- Weather
impact |
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| ibs ANALYTICS - Forecasting
Results |
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- Process forecasting
requests based on business criteria such as pricing, promotions or
replenishment |
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- Calculate error accuracy
indicator such as MAPE |
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- Consolidate impact on the
category and across categories for halo and cannibalization indicators. |
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| ibs ANALYTICS -
Optimization Results |
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- Process optimized results
based on the objectives, constraints or rules of the business process such as
pricing, promotions or assortment |
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| ibs ANALYTICS -
Automatic Model Update |
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Update model automatically
based on: |
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- Period frequency |
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- User requirements |
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- Error accuracy gaps |
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| Benefits |
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| - Coherent forecasting
strategy and objectives among all departments and retail activities |
| - Improved accuracy of
sales forecast |
| - Reduction in
operational delay and cost due to impact of better forecast to avoid
out-of-stock or overstock |
| - Homogeneous system
for forecasting/analytics requirements |
| - Better visibility
among various departments and categories on the impact of forecast on other
departments |
| - Real-time follow-up
on forecast |
| - Faster return on
investment when coupled with a proper process execution |
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| To address the needs
of large and multi-national retailers, our Analytics/Forecasting Engine for
Retail is integrated into Soft Solutions applications: |
| - Merchandise Decision
Suite, which includes applications for Pricing, Promotions, Assortment and
Supplier Data Management, as well as Supplier Negotiation and Deal
Management |
| - Retail Information
Management Platform, which facilitates item management and supplier data
synchronization Execution Management Services, Integrating Security, Workflow
and Reporting |
| - Soft Solutions
consumer demand forecasting suite allows retailers to predict all types of
consumer demand by item, SKU or grouping, by day, week, month or period, at
corporate, market, distribution center or store level. |
