Visibility of sales, operations and customer behaviour data are critical to succeeding in the highly competitive retail industry.
Retail analytics not only shed light on the overall cost of managing a business, but also provide rich insights that can be leveraged by management to improve customer satisfaction and drive profit margins.
From a data perspective, customer rewards programs are immensely powerful for helping businesses understand consumer behaviour and target their service offerings accordingly.
Our client introduced a new customer rewards program several years ago with a view to harnessing data insights to inform future strategic and operational decision-making. However, soon after deployment, program analysts found that they lacked the sufficient analytical capabilities to interrogate data from the rewards program
Our client needed robust data-driven insight into the behaviours of its reward program members. With existing business intelligence tools failing to deliver the quality and depth of insight needed, the organisation had to move quickly to roll out an alternative solution.
The solution was purpose-built using Amazon Web Services (AWS Cloud), with Amazon Redshift as the database and Microstrategy as the accompanying data visualisation tool. Data is pulled from the enterprise data warehouse and connects to key data sources (including SAP). Amazon Redshift extracts relevant data in tables to populate dashboards. This integrated solution draws on data from across the business, allowing analysts to review key metrics and performance against KPIs on a weekly basis.
We deployed a highly skilled team of SQL developers to drive implementation. Critically for a business of our client’s size and scale, we built scripts to auto-manipulate and transform data for the dashboards. This ensured that rewards program data remained both accessible and useable for other business teams.
- Trading Dashboard
The Trading Dashboard summarises the overall performance of the rewards program. Designed for executives, it provides visibility of the most strategically important (and primarily customer-focused) metrics, including scan rate, tag rate, basket size level, active members, sales comparisons and customer sales segmentations.
- Campaign Dashboard
The Campaign Dashboard tracks campaign performance over time. It captures performance against KPIs, campaign results and forecasting, customer segmentation results and financials (including return on investment).
- Marketing Segmentation tool
The Marketing Segmentation Tool assists the marketing team with customer segmentation and analysis. In particular, it identifies groups of high-value customers to target in future campaigns.
The dashboards we created have transformed the business intelligence, analytics and big data capabilities for our client’s rewards team. For the first time since launching the rewards program, analysts and management have visibility of all key program and campaign metrics in a simple, concise and easy-to-use format.
Reliability and accuracy: The solution has removed the need for program analysts to manually extract and analyse data. With new automation and data visualisation capabilities, the rewards team can be confident that the data is both reliable and accurate.
Rich data insights: The dashboards emphasise key metrics for immediate visibility, but additionally allow analysts to interrogate the granular underlying data. This has enabled our client to better understand performance drivers on key metrics and to identify patterns by store, customer segment and more.
Improved responsiveness: Our solution is fast and up-to-date. It provides weekly updates about store and segment performance. This has enabled the rewards team to respond quickly to customer behaviour, rapidly modifying strategies or launching campaigns to address underperforming segments.
Staff engagement and buy-in: Our client’s analysts and management have embraced the new easy-to-use dashboards. The CEO has requested a custom mobile application to monitor segment performance on the go.