In today’s rapidly changing economy, customers have more options than ever before. It’s not enough for retailers to have products that customers desire, or a well-known brand — businesses are competing for customer attention across different channels. A complete 360-view of customers, products, and suppliers is at the forefront of data management for retailers in order to:
Many retailers suffer from broken business processes and an over-reliance on manual tasks. This results in higher operating costs and resources wasted on tasks that could be automated. For example, not validating customer shipping addresses at checkout can result in failed deliveries and negative customer experiences. These inefficient processes are a root cause of poor data quality, leading to inconsistent information and an overall decrease of value of enterprise first-party data.
In a competitive retail landscape, customers expect personalized experiences. Businesses should be thinking about the geographic, demographic, transactional, firmographic, and any other relevant information that drives how they want to engage with their customers. Businesses need to think about their first and zero-party data collection strategy in order to meet desired personalization outcomes.
Duplicate and siloed data in retailers leads to an inability to support data analytics, understand buying power across suppliers, and measure business efficiency and product performance. Without a holistic view of products, customers, and suppliers, companies suffer from fragmented data that limits actionable insights and upsell opportunities.
The International Data Corporation predicts that by 2025, 75% of retailers will fully integrate order and inventory data and optimization against fulfillment, improving conversion by 10%, customer satisfaction by 50%, and reducing cost to serve by 25%.
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Create and personalize the product designs based on market trends consumer preferences and historical sales data.
Suggest products to customers based on their buying history and preferences.
Forecast product demand based on historical data.
Help customers in their chopping journey generate responses to their queries and guide them through the purchasing process.
Enable your marketing and CX teams to deliver personalized customer experiences across channels, leverage machine learning and automation, and connect interactions across digital and offline touchpoints.
Remove siloed business processes by leveraging our pre-configured automated workflows to onboard and launch new products faster, enable data quality and governance practices, and operationalize business efficiencies.
Drive efficiency and business insights by defining the process, people, and technology and data governance framework for running your business. Ensure data consumers across operations, reporting, and analytics trust their data.
Gain more insights into your customers by consolidating data across all lines of businesses to deliver more personalized experiences, improve customer service, and enable predictive analytics to better manage inventory and supply chain operations.
MDM SaaS QuickStart for Cloud Data Management helps clients quickly modernize their data management processes and benefit from consolidated master data. The QuickStart includes all project phases, from setup to deployment. By leveraging technical efficiencies and understanding complex business goals, Infoverity navigates unique client challenges to deliver valuable solutions.
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In the ever-evolving landscape of commerce, consumer decisions are increasingly focused on sustainability and responsible business practices. Organizations aim to enhance the purchasing experience by enriching product information throughout the product lifecycle. Product Information Management solutions, particularly Infoverity’s Product Data Circularity (PDC) modules, lead this transformative journey, benefiting industries like automotive, food and beverage, construction, and manufacturing.
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Infoverity's innovative Product MDM solutions, featuring scalable data quality rules and automated workflows, transform the distribution, manufacturing, retail, and CPG industries. These solutions expedite product onboarding, enhance data quality, and integrate customer experience strategies, driving revenue growth, operational efficiencies, and enhanced customer satisfaction.
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