Make your standard reporting flexible
Data is changing everything from the in-store experience to product design to customer engagement. It makes sense to pull data from all the corporate sources into a secure common reporting layer. It does make sense to use one version of the truth and apply common business rules.
It doesn’t make sense to rigidly enforce how people access and use this data.
Success should be measured much like your stores. Shoppers voluntarily use your store or your website, choosing you over attractive alternatives.
You want the same concept for centralized data. Inbound traffic from business departments using your data because it is convenient and personalized. If they are being forced to use it, by IT, or by corporate policy, chances are they probably aren’t. Look more closely and you will find endemic Excel use.
Whether pulling direct from source systems, or via a data warehouse, business users from all divisions go through the same types of steps in Excel to manually manipulate, reconcile and visualize data, before they start to get value from it.
The goal is to unify data while empowering business users – so smart people retain the flexibility, ease of use and independence that helps your organization evolve and innovate.
Golf House is the leading golf retailer in Europe. Management needed to unify POS data, customer surveys, inventory, and merchandise plans and financial forecasts to regularly inform management about all aspects of the business.
These range from daily sales to detail retail analytics, like when in the year each item of each SKU was sold in each store. Useful information when negotiating procurement, managing inventory, warehouse, supply chain, and managing the P&L.
Because they needed flexibility and to empower business users through self-service, they used Jedox. By unifying retail reporting and analytics, they gained significant time savings and enhanced reporting quality, and business users now consolidate group earnings instantly. They find answers, whenever they need them.
With a rapidly expanding multi-channel strategy unifying their data, Golf House have a consistent approach. This underpins moving engagement with customers from transactions to relationships and predicting purchase intent.
Unify retail reporting
- Daily sales, Stockturn
- Inventory DIFOT
- Like-for-like Store reporting
- Financial Consolidation & Close
- Disclosure Management
Retail reporting rules
This is Part 6 in a series on retail value-drivers, how companies use them in planning, reporting and analysis and lessons for mid-sized retailers to punch above their weight and better share information.
The gap between how a retailer presents itself, and how a consumer perceives it comes down to alignment. To provide a consistent experience to the customer, you must ensure business departments align with each other, and with your strategy.
While business divisions exist for different reasons, how they report, analyze and plan is very similar. By unifying these activities using and agile platform, departments can collaborate using common value drivers on shared data.