Starting with the release of Strategy ONE (March 2024), dossiers are also known as dashboards.
Strategy provides enterprise analytics which the retail industry can leverage to build applications on web and mobile that help analyze data for different teams in an organization. Faster report delivery into the hands of users’ wherever they are enables them to act more quickly, identify problems at an earlier stage, and stay educated on their trends.
The retail industry is one of the largest sectors and due to online shopping, it went through a disruption in the market. Hence, it becomes more important than ever to deliver products with customer satisfaction while maintaining lowest prices, and personalizing shopping.
A few of the most critical parts of the retail industry are:
1. Higher supplier delivery performance
2. Performance checking
3. Scorecard and KPI reports
1. Higher supplier delivery performance
To have high supplier delivery performance in an organization becomes a challenge without measuring the performance of suppliers. Supplier delivery performance is based on quality and time taken to deliver the materials to the business. Supplier delivery performance impacts the availability and quality of the product in store.
Lead time plays a vital role in enabling businesses to make products available in the store. Lead time is the time taken by the goods from point of origin to point of consumption. This includes the movement and storage of raw materials, of work in process inventory, and of finished goods. The lead time for the retail industry is huge, from months to 3 quarters. There are multiple factors involved, including distribution center locations that are global, time to ship the material or products, and supplier delivery performance that helps to enable the business to provide the cheapest price to customers with the best quality in the market.
It becomes very important to check the delivery performance of the vendors. To identify the vendors who have low supplier delivery performance based on the “on time” and “late time” delivery of the goods and products, we leverage Strategy reporting capabilities. Reports give different views from department, product category by port of loading, division, and at people’s hierarchy level. These reports help business users to avoid future contracts with vendors whose delivery times are late, providing a clear x-ray of employee interactions with the suppliers.
2. Performance checking
Businesses need to be aware of daily, monthly, quarterly and yearly sales to know where they are lacking and need to perform better.
To inform business users, we developed a dashboard that tells a story to understand the contribution of financial metrics, shipment and option accountability.
To boost sales, we provided reports to the business that are customer-centric, bucketing the age group of customers for promotional activities to help to make their shopping as per their preference.
3. Scorecard and KPI reports
We can create a scorecard at different levels. To understand the summary of vendors, we provided a detailed scorecard that provides a summary of vendor performance, based on delivery, quality, ethical standing and capability. This helped the business to be aware of the details about the associated vendors.
KPI reports help in defining the key business metrics and gives a management summary of business performance.
We can also leverage Strategy for self-service BI that helps to enable business users through education and training to do self-service BI. The concept of self-service reporting is to enable the business users to generate their own reports. Self-service gives a flexible reporting solution to the business users. Strategy will enable the user to select reporting attributes relevant to their business and analyze important KPIs.
The self-service BI capability in Strategy, Dossier, gives business users a lot of flexibility to analyze data in different ways. The data source(s) of a Dossier can be varieties of sources from building a query, typing a query, and selecting tables from databases to other available data sources that can be used for quick analysis. Self-service BI ranges from full IT support to no IT support over time, as users are trained to full capacity over time.
As Strategy capabilities goes far beyond the vicinity of this article, the highlight of the tool is the continuous upgrade and introduction of new features to become one of the most competitive tools in the market. One of the features introduced by Strategy is establishing connection with Kafka to analyze the real time streaming of data using Strategy cubes.
A note from the Community team
Get your team started with self-service BI with the Learning Center. The Analyst page is a good place to learn how to create your first dossier.
