What they wanted
A fast growing sports pure player needed deeper commercial insights across their organisation and guidance in how and where to start their journey into becoming a truly data driven retailer. We set out to create a roadmap to develop solutions with a strong business case directing towards becoming a leader in the industry in the data science field. Given their digital maturity, we started by creating a solid foundation first, working towards more ground-breaking solutions from there on.
What we did
We started development of the roadmap by a demand forecasting solution to get grip on future sales to accommodate inventory, assortment and pricing decisions, meanwhile connecting a broad range of data sources to create the foundation. This was done in a short cyclic manner aimed at a quick delivery of a minimal viable product, initiating a feedback loop with the end users focused at maximising business impact.
We have created machine learning forecasting algorithms that have deep understanding on highly specific product lifecycles, long- and short term seasonality, trends and customer growth of the client’s products and sales. The results shown in intelligent dashboards in the client’s own tool ensure the right priorities are displayed, creating focus and enabling an exception based workflow. Leading the way to enhanced control and therefore superior performance on amongst others: net sales, several margin levels and over- and under stock risks.
What we achieved
Resulting in a 0,5% additional turnover due to lost sales prevention, while freeing up over 5% of working capital by avoiding overstock. At the same time, the client reports major increased data-driven conversations and interdepartmental decision-making, resulting in a smoother buying and marketing process.
Additionally, the next topic on the roadmap is started to launch this customer to become a front-runner in its sector by operating in a data driven way.