04 Jun Launching ‘Analytics as a Service’
Analytics as a Service
What if we could help you answer the vital questions you have about your business’s performance but don’t have the capability to. Could you do with a tech partner who can interpret your business’ data and unveil new information which you can act on?
Introducing Celtech’s ‘Analytics As A Service’
We have over two decades experience in retail and wholesale so we are expertly placed to understand data, understand consumer behaviour, reveal trends within your business and provide recommendations for continuous improvement.
Following a clearly defined process, we work with our customers to identify areas in their business where there are ‘information vacuums’.
Hosting a workshop at the client’s site, we define the specific area of the business that the customer would like to know about in more detail. We aim to quickly deliver the type of information that they can act upon. Areas to consider can be sales, product ranging, waste management, stock optimisation, basket analysis, customer information, trends, compliance, non-conformance events, security, risk, etc.
We first explore the data that we have in front of us, and because of our industry expertise we’ll know the steps to take to turn this into meaningful information.
We then break the challenge down into smaller ‘chunks’ and use tools either natively within Celtech’s platform ab-initio or work with a Data Scientist to uncover the answer.
Our team will use the most appropriate tool to extract and present the data. We can support this by running modelling and conduct predictive work using Artificial Intelligence if needed.
Sometimes we can even answer questions that customers don’t know they currently have.
From data to speedy insights
We do these chunks of work at speed and in the work-shop we agree a number of ‘sprints’ which are outputs to be achieved in very short periods of times. From briefing to the first output is typically 2 weeks.
Let’s say we have a multi-store retailer who would like to check the effectiveness of their category management strategy, and in particular the commercial effectiveness of a single planogram.
They could have 3 metre of soft drinks in 1 store and a 5 metre soft drinks display in a 2nd store. But which planogram is more effective?
Using our ‘Analytics As A Service’, we can determine how effective the layout is in terms of its sales/stock/waste/margin contribution performance, and make recommendations for improvement. We can inform the retailer quickly and having optimised that area, move on to the next objective.
There are several advantages to a retailer or wholesaler who participates in our ‘Analytics As A Service’ programme:
- We can offer the customer a low cost / high value proposition with the delivery of meaningful business information very quickly.
- We can help increase the efficiency of the business in very specific areas, empowering the retailer/wholesaler to optimise the minutiae of their operations.
- The customer benefits from a defined ‘time to value’ process. They run their business whilst Celtech undertakes a workshop, goes into a 2 week sprint and then deliver our results. It’s a very efficient way of working together.
Following the roll out of our ‘Analytics As A Service’ initiative, we are about to launch our next customer focused service, ‘Merchandising As A Service’.
This new programme will deliver quick wins for merchandising teams who have Celtech’s vital support in analysing stock and replenishment strategies across the business.
Celtech will agree the benchmark settings, and through algorithms, online dashboards, true real-time reports and weekly meetings with the Merchandising team, will ensure stock is as commercially effective as it can be.