KSS Retail Introduces Advanced BI Solution
Published in CSP Daily News
PriceStrat Analyzer improves retailers' ability to make pricing, promotion strategy decisions
CINCINNATI -- KSS Retail recently introduced PriceStrat Analyzer, an advanced business intelligence solution designed to help the retail industry identify trends and exceptions so they can make faster, more accurate decisions about pricing and promotions.
PriceStrat Analyzer empowers retailers to better harness their data for more accurate forecasting, while extending analytics throughout the organization for improved transparency and team collaboration.
PriceStrat Analyzer enables pricing teams to create and share dynamic, highly visual web-based dashboards and other reports across merchandising, category management, marketing and finance teams, as well as trade partners and other key stakeholders. Users can sort, pivot and filter data to monitor business performance across a spectrum of factors.
Examples of the pre-built dashboards available in PriceStrat Analyzer include:
- Optimization Tracker Dashboard: Enables retailers to measure against forecast baselines to gauge the effectiveness of pricing decisions and identify key trends in various financial metrics--such as sales, units and margin--in an easy-to-use graphical format.
- Promotions Summary Dashboard: Illustrates the effectiveness of advertising and promotional scenarios and their potential cannibalization effects so retailers can make adjustments to optimize performance. Retailers can visually compare forecasts to actual performance of marketing programs.
- Competitive Analysis Dashboard: Presents competitive data at multiple levels--including category, department, zone and store--so key decision makers can monitor competitive positioning in the market and quickly make appropriate changes to improve their edge.
"It's vitally important that retailers have visibility into the impact of their pricing strategy so they can take active steps to maximize both financial outcomes and customer brand perception," said Yael Cosset, CEO of KSS Retail and global CIO of parent company dunnhumby Ltd. "This new analytics solution reinforces KSS Retail's commitment to ongoing innovation and to making sure that our clients get the most value from our technology solutions. We will continue to focus on combining superior science and data to help retailers transform how they optimize their decision-making process, so they can ultimately deliver what their customers want and need."
KSS Retail is a leading global provider of price optimization and shopper insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their shopper's needs and to deliver more effective pricing, promotions and merchandising decisions. Current clients include 7-Eleven, Tesco, O'Reilly Auto Parts, BI-LO, Sonae, Raley's, United Supermarkets, ABC Fine Wine and Spirits and others.