Oracle Launches Retail Insights Cloud
Oracle Retail has combined three cloud services into a new Oracle Retail Insights Cloud Service Suite, combining a spectrum of analytics that align to key performance indicators for retailers.
Oracle Retail customers, including the Gap, Lojas Renner, and Al Nahdi have already experienced the benefits of Oracle Retail Insights and Science solutions.
"We are working with several retailers who are anxious to adopt cloud to bridge the gap between operations and innovations," said Jeff Warren, vice president of Oracle Retail, in a statement. "To capitalize on the surge of unstructured and structured data in retail, we have applied advanced techniques for analyzing retail data from multiple perspectives into a single cloud services suite that integrates with retail-rich applications and cloud services. With these tools we can deliver analysis on what happened (descriptive), what is going to happen (predictive), and what a retailer should do about it going forward (prescriptive)."
The Retail Insights Cloud suite leverages Oracle Retail Home to provide a single access point to the data, which includes complete visibility into what motivates customers at each stage of their journey and how they are interacting with the brand across all touchpoints; actionable merchandising opportunities across touchpoints, including backorder and returns, top/bottom seller, demand/fulfillment, and price and promotion analysis; local market assortments; affinity; store clustering; customer segmentation; consumer decision trees; demand transference; attribute extraction; planogram performance; return-on-space; sales; revenue; profits; promotions; markdowns; and targeted offers.