RevTech for Retail
Data-Driven Revenue Growth in Retail
Major retail brands typically have legacy systems driving business operations, often with silo'd data. The result is that real-time insight - and especially, predictive and prescriptive (actionable) insight - is incredibly difficult. RevTech enables data-driven revenue growth for retailers by creating a single source of truth for revenue data (directly from ERP and POS sources) and integrating it with marketing, sales, product and inventory data.
RevTech then produces real-time recommendations for driving retail channel growth.
Why is Data-Driven Revenue Growth Imperative for Retailers?
Most retail brands sell through opaque revenue channels, such as physical stores or 3rd party online marketplaces like Amazon. In both cases, surfacing omni-business insights is critical to not only surviving but to thriving business outcomes. For retailers with a physical presence, 93% of revenue still comes through physical channels. For those who sell online (primarily or exclusively), awareness optimization is critical to decreasing revenue cannibalization by 3rd party marketplaces like Amazon.
This means global performance monitoring through sophisticated data source integration and machine-driven analysis is critical to sustainable growth.