1010data’s Retail Analytics Suite Will Expand McColl’s’ Sales Forecasting Model, Help Enhance Key Distribution and Better Understand Local & Regional Demand
1010data, a leading provider of analytical intelligence, enterprise analytics and collaboration capabilities to the retail, consumer brands, and capital markets sectors, announced its first European customer, McColl’s Retail Group, a British convenience retail chain and newsagent with over 1,200 managed retail locations across the U.K.
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1010data continues to cut an innovative path to advanced sales and demand visibility through the addition of new data solutions, granular analytics, machine learning and the leveraging of disparate data sets, enhancing the sales and operations of its growing retail network. Bringing these capabilities to McColl’s, the objective is to use near real-time data feeds, AI (artificial intelligence) and analytics to help create more transparency and thus better visibility into supply and demand, for a smoother supply chain between the retailer and its key distributors. For McColl’s, it will encompass an improved understanding of regional differences in demand, and the ability to quickly respond to those changes.
Faye Roth, Chief Information Officer of McColl’s, commented: “The ability to rapidly respond to fast-changing consumer behaviors, whether different volumes, purchasing patterns or basket mix is more critical now than ever. To that end, the first phase of our engagement with 1010data will focus on using its powerful Retail Analytics Suite to enhance our ability to understand customer behavior at the most granular level. This will enable us to draw out patterns which will help us adjust our product offering, range, or channels and marketing. Ultimately, we expect to use the tool to boost McColl’s’ sales forecasting ability, spotting out-of-stocks and identifying local/regional demand for certain products, moving the company toward a more enhanced forecasting model.”
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“The pandemic continues to cause rapid, hard-to-predict shifts in consumer demand across the retail landscape. Retailers are operating in a state of constant uncertainty, so the role of analytics and predictive capabilities driven by AI provides retailers with the tools to act decisively when the terrain ahead is hard to forecast,” commented Inna Kuznetsova, CEO of 1010data. “Our engagement with McColl’s is another step on the way toward 1010data’s vision to innovate and lead this market segment in data-driven decision-making. Broadening our leadership in the retail space, our relationship with McColl’s underscores 1010data’s innovative vision.
“McColl’s is committed to serving millions of customers as effectively and conveniently as modern technology will allow,” said Faye Roth. “Having just celebrated 120 years of serving local communities, we’re pleased now to be tapping into 1010data’s analytics expertise, which will help to drive innovation across the business and prepare for a multitude of changing needs.”
