Our platform performs complex basket analytics to understand product substitutability, affinity, and loyalty using your customer data at lightning-fast speeds. Our proprietary technology enables big data connection with processing speeds that are unrivaled across the industry. We reduce days of processing time to seconds, which means you can run assortment optimization across all your categories, super-quick, at the click of a button.
Once we’ve performed basket analytics, we use machine learning to cluster products together using importance and substitutability metrics and allow users to define customer decision partitions based on how the products are grouped. Our platform also allows users to interact with the output that has been created, trim the decision tree and re-group products if necessary to provide a scientifically robust, but commercially sensible category level customer decision tree.
Once a decision tree has been created, our platform then allows the user to fully immerse themselves in the product and partition level insight available. Users can interact with the dashboards to understand key product-level metrics that will enable them to make effective ranging decisions whether at channel or individual store level. Our platform also allows you to run "what-if?" simulations to understand likely demand transference and the commercial impact of any range increase, decrease or pricing and promotional strategies.
WHY Kx FOR RETAIL ASSORTMENT OPTIMIZATION?
The right product, at the right time in the right place has never been more crucial in the current retail landscape. Category managers need to be able to adapt and optimize assortment to be as competitive as possible and speed of insight is key. Kx for Retail Assortment Optimization solutions enable lightning fast, commercially actionable insight through an easy to use platform.
Kx FOR RETAIL ASSORTMENT SOLUTIONS
HELP MANY AREAS OF YOUR BUSINESS
- Global Assortment Optimization
- Range Reduction & Expansion
- Customer Centric Category Planning
- Store level & Online Ranging
- Real-time Business Intelligence
- Product affinity and cross-sell / up-sell opportunities
- Customer decision focused website taxonomy
- Merchandizing personalization
- Product recommendation engines
HOW TO SURVIVE THE RETAIL REVOLUTION THROUGH ASSORTMENT OPTIMIZATION
Retailers that leverage technology to manage and process the vast quantities of data and unlock the power this holds will stay ahead of the competition. In the changing retail landscape, those that apply science to the art of category management will thrive, and survive the retail revolution