Omni Channel

Data as a Product: 5 Benefits of Rethinking Your Multi-Customer Solutions as an Omni-Customer Platform

In 2013, at the SAP National Retail Forum (NRF), the results of a Retailer survey concerning Omni-Channel maturity were presented. The findings demonstrated the degree to which Retailers were taking advantage of Omni-Channel opportunities. The results indicated that although 85% of Retailers considered themselves Omni-Channel, only 8% of the same Retailers provided an ability for a customer to transact in multiple Channels, and, even more concerning, only 7% of these Retailers indicated that they had a single view of the customer across their channel offerings. This issue remains important for Retailers today. In fact, Forbes lists the ‘(Creation of) New Revenue Streams’, including ‘data-as-a-product offering’ to be the #1 strategic issue facing CIO’s for 2016.

Retailers today are keen to capture as much information about the customers shopping their various platforms. However, according to the survey commissioned by SAP, the vast majority subscribe to a ‘Multi-Customer’ collection model. Customer data sets are often found to be independent of each other; Loyalty, eCommerce, POS transactions, Private Label Credit Card, etc., each have distinct data sets that result in both customer overlaps and customer gaps. A customer may have not shopped on a Retailers website, but is a loyalty member and holds a Private Label Credit Card. This single customer’s information could reside as data points within various databases and each of these customer records could, and likely will, contain differing information that is invisible to other Channels.

Data-as-a-product can be defined as ‘the use of a Retailers comprehensive data set as inputs into descriptive and predictive analytical processes’. Consolidating, simplifying and enriching this data set aids in building a strong and personalized customer relationship with your organization and moves you beyond the simple reporting paradigm to which most retailers continue to subscribe. During our recent webinar regarding the functional/technical […]

Retailers wrestle with the future of shopping

Successful omni-channel retailers are beginning to break down the walls between store and on-line and become customer-centered by aligning the organization, processes, data, reporting and systems.  What’s needed are simple, intuitive, fast tools that provide customer insights across the retailer’s entire product and channel portfolio.  Tools like SAP’s Customer Activity Repository are customer-focused and provide simple, fast access to customer channel preferences by product, season, promotion, location, plus a host of additional data elements.

 Post based on Original Article Source. 

Retailers want their shoppers to have the same experience whether on the phone, on the computer or in the store.

One inventory, one unified customer service experience, one checkout. It can mean pick-up in store, ship from store, click and collect, order in-store or a number of other options that make it painless to get what you want, wherever you are, when you want it.

This is what retailers mean when they talk about “omnichannel,” and it’s at the top of their priority lists this year, according to the National Retail Federation. The topic took center stage at the eTail West Conference in Palm Desert on Wednesday. The conference, hosted by Worldwide Business Research, runs through Friday.

“What’s going to happen over the next five years is a merging of online and offline into a single retail organization,” said Forrester VP and Principal Analyst Peter Sheldon, during a keynote presentation at the J.W. Marriott.

To be successful with such a transformation, Sheldon said, retailers will have to stop thinking about their digital and in-store customers as different people, and their online and physical store sales as separate. Because they’re not, he said. A Forrester study found that half of sales that take place in physical stores were influenced by […]