Introduction and Overview
Retailers have many things to consider: assortment, brands and private label, category performance, promotions, pricing, margins, supply-chain, store locations, omni-channel. Ultimately customers are the key priority with an objective to increase customer satisfaction and sales. Understanding customer needs and behaviours in an increasingly digital retail environment is key. Visual, predictive and streaming analytics, including machine learning tools provide opportunities to analyze customer and operational data. And to optimize processes by acting on the insights gained. TIBCO Spotfire® helps you build out a wide variety of retail solutions and this page will provide you with examples.
This section is relevant for Retailers and Manufacturers because preferred suppliers or category captains often have an advisory role towards retailers and expert category management insights are expected.
Spotfire is used in many CPG & Retail companies throughout the world selling products as well as services: Consumer Packaged Goods, Clothing, Beauty products, Gardening & Outdoor, Electronics, Financial Services, Sports & Entertainment and Travel to name a few.
Note that CPG or Consumer Packaged Goods is also referred to as FMCG or Fast Moving Consumer Goods
Some of the key capabilities and use cases relevant for CPG & Retail include:
Key Spotfire Capabilities
- Ad-hoc data discovery with interactive visualizations and built-in statistics
- Seamlessly integrate advanced analytics and machine learning into dashboards using in-built TIBCO Enterprise Runtime for R and other (SAS, Matlab, etc.) engines
- Big Data analysis via Spark, Hadoop and other connectors
- Geo-analytics capabilities to assist with map and schematic analysis
- Natural Language Generation to customize and automate high quality insights
- Enterprise-class platform to quickly and easily configure lowest-cost custom solutions
- Dashboards available on cloud, desktop, tablet or mobile devices
- TIBCO Insight Platform combining TIBCO Spotfire and TIBCO Streambase to turn insights into action
Be part of the Spotfire Product Roadmap by leaving your product suggestions on the Ideas Portal
CPG & Retail use-cases
Category Managers, Trade Marketeers, Buyers, Promotion Planners, Brand Managers, Sales Managers are all involved in the category management process. This involves understanding the role of the category for a specific retailer and in the market and deciding on strategy and tactics to grow the category. Agreeing on KPIs and targets related to product assortment, promotions, position on the shelf and new products is part of the process. And monitoring category performance through the agreed KPIs as well as price and margins is essential. This is most effective with transparant interactive dashboards with consistency of data and metrics where appropriate. This is a collaborative process between retailer and manufacturer. In the customer stories section at the bottom of this page you can read about how for example New Balance uses interactive dashboards to create and share insights on assortment and sales.
The Customer Analytics Wiki page covers use-cases, templates and examples of customer analytics such as: customer & product segmentation, affinity and propensity modeling to improve campaigns and to identify cross-sell and up-sell opportunities, A/B testing to optimise marketing campaigns or Net Promotor Score (NPS) analysis which is a measure of your customers overall loyalty to your company. Customer Analytics is about gaining and retaining customers and about understanding your customers Life Time Value and increasing it where appropriate. Real-life customer stories are included with examples of implementations for retail banking, outdoor retail and telecommunications.
Read the whitepaper Turning Customer Insight into Action.
In this demo of an omnichannel customer journey for a Telco product you can see how understanding and being able to interact directly with the buying journey allows for the retailer to act pro-actively and with increased flexibility to customer needs whilst taking into consideration relevant stock restrictions, pricing, customer history, etc.
A frequently used technique to visualise an omni-channel customer journey in Spotfire is the Sankey chart.
The Manufacturing Wiki page covers relevant use-cases such as Product Quality, Predictive Maintenance and Process Control
The overall objective in supply-chain is to get the right product to the right customer at the right time with minumum costs. Costs examples are waiting time, impact on environment, product waste, fuel usage. Analytics can improve supply-chain by creating a complete overview of product, routes, warehouses and related relevant datapoints. Using historic data and learning the key drivers for demand and factors influencing efficiency of the warehouse or shipping routes, a demand forecast can be made, inventory and warehouses can be optimized, routes can be optimized and supplier performance can be monitored. Root causes for issues can be identified and addressed.
Click on this link for a complete demo video of a supply-chain analysis using Spotfire
Trade Area Analysis
Trade area analysis uses Spotfire geoanalytic capabilities to identify sales potential for specific products or a category looking at demographic data, sales data, store locations and associated travel routes. How to run such an analysis is explained in this Tips&Tricks article. Including video and dxp to download as an example. This analysis can even be done at walking distance level.
Retail Location Management
The geoanalytic or mapping capabilities are a great way to visualise schematics of phyisical locations such as shopping malls and stores. Store performance can be monitored and anlysed - depending of availability of - beacon data or other footfall information and locatoin of shoppers. This is being used in airports for example where knowledge of busy areas helps airport facility managers to direct passengers to shops and restaurant areas where there is still space.
Companies who have been wise to invest in collection and storage of data will be able to reap the benefits of sharing their data not only internally but with their external business ecosystem. For the retail industry, examples include suppliers sharing supply chain and performance data with retailers. Business value is significant as it can either be positioned as a data monetization opportunity creating a new revenue stream, or it can be positioned as a retailer-supplier collaboration tool which will help increase market share and profitability, resulting from a joint understanding of the market and the consumer and making room for win-win decisions on promotion, assortment, and distribution. The competitive advantage is for those who understand the value of this type of data democracy and have found flexible, intuitive, and secure tools for sharing their data and insights.
Here are some examples of successful external data and analytics sharing projects from various industries. Note that these are just shared as examples, you will need to be a customer with login details to see the data and analysis on the actual portal. Spotfire has strong capabilities in the area of security and scalability to accommodate these type of deployments.
- SMG BrandGeek SurveyMini Analytics (scroll down a bit once on the page to see 2 videos with examples of BrandGeek, SurveyMini)
- BNP Paribas Security Services - DNA Data Navigation Analysis
- E&Y Helix Analytics Platform
- Boots Insight Portal
Data Sources and Process Map
Some key external, Syndicated data providers in the CPG & Retail Industry are companies such as IRI, Nielsen, Kantar, GfK, Experian and others. They provide Point of Sale (POS) data such as price, promotion levels sales volumes and sales velocity and customer panel data such as trial and repeat, penetration and buying frequency or demographic data such as age, gender and income. This data can help understand the full customer and market context and is a valuable addition to internal data sources.
The right combination internal and external data on customers, production, supply chain and financials and the right analytic application allows for optimization in all of the below areas of the retail journey from supplier to customer as shown in a high-level overview of a CPG & Retail Processes. It is a continuous process impacting product and consumer life cycle.
The North Face uses data from their VIPeak rewards program and analytics from TIBCO Spotfire® to optimize marketing spend by focusing resources and efforts on their most qualified and persuadable customers.
- Presentation at TIBCO Now 2016: The Jacket You Didn't Know You Needed
- Press article: How The North Face Scaled the Customer Loyalty Peak
Constellation brands Canada, a market leader in the Canadian wine industry uses Natural Language Generation to help provide their teams with concise, actionable takeaways from the data in their Spotfire dashboards
- Press article with Constellation Brands, TIBCO and Automated Insights
M&S - an international, multi-channel clothing, home products and food retailer. Sourcing their products from around 3,000 suppliers globally. In this customer story M&S explains how they enabled self-service BI, increased productivity, and have made a cultural shift. Impacting postively supply chain and inventory management, customer service and supplier performance.
Yakult is the world's leading probiotic beverage, created in Japan and produced by Yakult Honsha, the world's pioneer in probiotics. The company's portfolio includes a range of consumer, cosmetic, and pharmaceutical products. In this customer story Yakult explains how Spotfire has helped them gain competitive advantage, better retailer relations, and greater productivity.
Friesland Campina is one of the world’s five largest dairy companies. In this customer story they are deploying Spotfire to all 10 of its sales and operations planning (S&OP) hubs for creating their supply masterplans. And how they have improved decision making and reduced time and effort for generating reports and interpreting data by 30%.
New Balance In February 2015, New Balance began its TIBCO Spotfire® journey to modernize their BI reporting. By the end of 2015, they had made significant strides in global reporting, enabling their North American sales force to sell better to customers, and view product lifecycle from inception to sell-through in ways that hadn’t been possible before. In this session of TIBCO NOW 2016, New Balance's project team will discuss what it took for this $3B company to implement Spotfire in a few months, and the lessons learned. Note that slides 11-14 contain (masked) examples of supply chain, sales and retail channel dashboards.
Further Retail & TIBCO inspiration:
- Macy's Customer Story - Macy’s Directs Millennial Traffic with TIBCO Mashery
- DM-Drogerie - dm-drogerie Provides Instant Shopping Rewards for Mobile Customers
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