Oracle has unveiled Oracle Retail Customer Analytics, a business intelligence solution that is said to help retailers better understand their customers and what drives their buying decisions.
Oracle Retail Customer Analytics helps retailers increase sales and margins by providing category managers, merchandise managers, buyers and pricing analysts with the segmentation, demographic, product affinity and promotion information they need to make more informed decisions.
Taking advantage of existing data, Oracle Retail Analytics helps retailers gain a competitive edge by enabling them to answer critical questions about their customers' buying habits, such as:
- How are my products selling across demographic groups?
- How are my products selling across behavioural attribute groups?
- What are my most valuable customer segments?
- How are my promotions performing?
- What are my top product affinities?
With more than 10 pre-built dashboards based on almost 100 key performance indicators, Oracle Retail Customer Analytics is designed to deliver rapid time-to-value and enables retailers to adapt to customer preferences and market opportunities on the fly.
Part of the Oracle Retail Analytics Family of BI Applications
Oracle Retail Customer Analytics is the latest solution within the Oracle Retail Analytics family of applications and complements Oracle Retail Merchandising Analytics, which provides visibility to item and store performance, inventory turn, sales and profit trends, and potential out-of-stocks.
Oracle Retail Analytics business intelligence applications place control in the hands of business users, enabling them to run queries and act on insights directly from their dashboard.
Oracle Retail Analytics applications are optimised to run on Oracle Exadata Database Machine and Oracle Exalogic Elastic Cloud, and are designed to deliver the extreme performance and scalability required to accommodate high data volumes common to retail environments without sacrificing depth or speed of analysis.
Oracle Retail Analytics applications are pre-integrated with several Oracle and third-party applications and can be implemented alone or together to accommodate each retailer's unique information requirements and application environment.
Built on Oracle Business Intelligence Enterprise Edition, Oracle Retail Analytics support today's mobile workforce and can deliver reports to mobile devices and desktops in a variety of formats.
"The key to improving the customer experience is to understand the customer," said Greg Girard, Program Director, Merchandise Strategies, IDC Retail Insights. "Analytic solutions that help retailers gain insight into their customers' buying patterns lay the foundation for a deeper understanding and make it possible to create a personalised shopping experience while optimizing profitability."
"Oracle Retail Customer Analytics takes the custom-build programming off the retailer's plate and gives merchants, category managers and pricing analysts the tools to analyse who's buying what and when," said Mike Webster, Senior Vice President and General Manager, Oracle Retail. "This product demonstrates the advantages of leveraging Oracle's best-in-class business intelligence tools with retail-specific expertise."