Answers to high value questions constraining retail growth lie buried in the billions of data elements generated by retail transactional systems, customer loyalty programs and other retail data sources.The Challenges
The Importance of Customer Behavior Analysis
Customer behavior metrics more faithfully model the real world than traditional, easily derived, proxy metrics such as revenues or units sold. For example a promotion lifted unit sales by 20,000 units. Was this 20,000 customers buying one unit each? Or 200 customers buying 100 units each? Did they buy them on the same visit or multiple visits? Were they new customers to the category? How did it impact their future purchase behavior? With this insight what can we do now to optimize this promotion and inform future promotions?
Or a slow selling item is a candidate for delisting. How important is that item to our high value customers? How substitutable is it? How much total spend is at risk if we alienate these customers?
Compressed Time To Insight Changes Everything
The paradox is that many of the important questions only derive value if answered quickly, yet due to their complexity this is seldom possible. A week is a long time in terms of cost of inaction at any $100 million+ retailer. Conversely rapid insight paired with immediate action empowers us to influence the future and drive growth.
AntScan™ Technology Makes Customer Science Accessible To Any Retailer
11Ants Retail Insights Cloud’s proprietary AntScan™ technology represents a breakthrough in the way massive volumes of disparate retail data can be analyzed – enabling answers which have traditionally taken days or weeks, to be delivered in seconds.
11Ants Retail Insights Cloud seamlessly fuses high capacity cloud computing, data science, sophisticated customer analytics, predictive analytics and customer-centric retail best practices. The solution is the result of over six years of research and development by a team comprising of machine learning PhDs, retail subject matter experts and enterprise solution architects.
Deploy in Hours. Not Months Or Years
The entire solution comes to life within six hours of a data set being uploaded, not months or years – virtually eliminating deployment and technical risk.
11Ants Retail Insights Cloud was awarded Innovative Software Product of 2016 by Microsoft. 11Ants Analytics is a subsidiary of Air New Zealand (NZX: AIR).