SILICON VALLEY, Calif.--(BUSINESS WIRE)--DynamicAction today announced the Spring release of its most advanced prescriptive analytics platform to date, specifically designed to provide retailers with a holistic view and the ability to take profitable action on their customer, product and profit data across web, stores, mobile, marketplace, call center and catalogue. The announcement took place at Shoptalk 2017, where DynamicAction is showcasing its new omnichannel capabilities.
DynamicAction first disrupted the retail industry with the introduction of its advanced analytics solution for retail merchandisers, enabling retailers across the globe to make decisions on their online data at the speed of Amazon. With this expanded platform release, DynamicAction now allows retailers to take an even bigger leap forward by connecting all retail data from every channel, with the ability to analyze and take rapid action on transformed eCommerce, store and omnichannel data, both individually and cohesively.
Solving the omnichannel dilemma
According to recent research by WBR Research and eTail, 75% of retailers believe that omnichannel is essential to their business, yet 49% say they are making “little progress” towards omnichannel capabilities.1 Today’s retailers are hyper-aware that mastering true omnichannel capabilities entails maximizing the lifetime value of the customer across channels and delivering profitable experiences by leveraging the connected consumers’ “anytime, anywhere” behavior. However, retailers also find themselves in need of deploying an omnichannel–capable analytics solution that allows them to see the entire retail picture, without drowning in the deep pools of data, and understand the actions they can immediately take to drive higher sales and profits.
DynamicAction turns retailers’ omnichannel aspirations into reality, so that they can deliver superior customer experiences, operate profitably and maximize their physical store investments.
“At Mulberry, we are constantly focused on fine-tuning our retailing craft through an understanding of the business in its entirety. Thus, we need to be armed with data that is connected and complete and with reporting that is all encompassing,” said George Clark, Head of Digital Development, Mulberry. “The expanded release of DynamicAction accelerates our innovation by offering a holistic view of all customer interactions with our products and our inventory as they shop online and now, in our physical stores. Our digital team has operated with DynamicAction as a control system for decision making for some time, and this update will allow us to nimbly pivot on customer data and swiftly move to deliver deeply personalized and profitable product offerings for our customers in every channel.”
The expanded release of DynamicAction solves key issues hindering retail today by providing:
- One View of Customer. By tracking customer shopper patterns and cross-channel conversions, DynamicAction helps retailers drive customer lifetime value, profitability and up-sell.
- One View of Product. Retailers can now have a holistic view of product exposure, profitability, fragmentation and conversion, enabling them to better align inventory availability and drive greater full-price sell-through.
- One View of Inventory. DynamicAction provides a single view of inventory and returns across stores and warehouse, flagging under-stocked and overstocked items. As a result, retailers can optimize inventory positions and availability by store and warehouse.
- One View of Profitability. With DynamicAction, retailers gain a single view of profitability and profit influences across channels, helping them to quickly prioritize and take actions that drive revenue and profit.
“Retail executives today face one of the toughest challenges in the industry’s history — delivering the optimal customer experience at each touchpoint, while growing profitably across every channel,” said John Squire, CEO, DynamicAction. “They are often attempting to do so with disconnected teams, processes, technology and data. DynamicAction now changes that paradigm, and puts traditional retailers back in the drivers’ seat, allowing them to leverage connected data to drive profitable decisions online and in-store.”
DynamicAction will demonstrate their new omnichannel product capabilities at Shoptalk 2017 on Tuesday, March 21 at 8:50am in Bluethorn 7-9 room alongside Mulberry, as well as at booth #1210 for the duration of the show. For more information visit http://www.dynamicaction.com/find-us-at-shoptalk-2017/.
About DynamicAction: Retail’s fastest path to connected, profitable decisions — from each click to every brick. DynamicAction is the most advanced analytics solution specifically built for eCommerce, store and omnichannel retail merchandising teams. Connecting and analyzing millions of data points from every part of the retail organization, DynamicAction uses more than 600 proprietary algorithms to pinpoint margin-eating disconnects in the business, prescribe precise actions and accurately rank those actions by financial impact.
As a control system for retail businesses, DynamicAction delivers new metrics, automated diagnostics and both out-of-the-box and ad hoc analytics and visualizations. Since all roads lead to action, DynamicAction constantly alerts retail teams to areas of opportunity and improvement. Through API integration, it then elevates the retailers’ tech stack with transformed data to drive automated decisions and actions online and in-store.
Retailers across the globe, including Brooks Brothers, El Corte Ingles, Tesco, Nine West, Clarins, Mulberry and Cole Haan, rely on DynamicAction to run more efficient organizations, sell more at full price, mitigate markdowns, reduce waste, capitalize on demand and increase profit.
Leading analyst firm Frost & Sullivan recently declared that by utilizing DynamicAction, “There’s a new way to run retail organizations—with a clear understanding of data and immediate actions to improve performance. DynamicAction has Moneyballed retail.”
Headquartered in Silicon Valley, DynamicAction has offices in London, Sofia and Dallas. Connect with us at www.DynamicAction.com and @Retail_DnA on Twitter.
1 Source: eTail and WBR Research, November 2016