MINNEAPOLIS, May 01, 2017 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (Nasdaq:SPSC), a leader in retail cloud services, announced the release of Expanded Insights, the latest capability to its Performance Analytics demand planning solution. Expanded Insights automatically combines retail point-of-sale and inventory data with external information such as social conversations and sentiment, promotional activity, and economic trends across all channels for increased retail business intelligence.
In today’s constantly evolving retail landscape, brands are orchestrating digital engagement across all channels and require complete visibility into the sell-through performance and demand of all retail channels. Retailers and brands now depend on moving beyond traditional data sources to gain a comprehensive view of their business to offer the seamless shopping experience today’s consumers demand. Legacy solutions focus only on in-store POS data and thus do not provide suppliers the meaningful insight they need to win across all of their retail channels.
With Expanded Insights, users can share data and key insights throughout their entire organization via shareable, easy-to-read dashboards. Additionally, it ensures decisions are being made with the most accurate information possible by using a data-scrubbing capability that cleanses incorrect, incomplete and duplicate data and standardizes improperly formatted data across all data sources. It also provides the ability to blend that data (including planning/forecast data, social engagement, marketing, and competitive pricing data, geography and more) with retail point-of-sale data from the SPS retail network, giving brands a unified view of their business, both online and in-store.
“Actionable insight is power in today’s fast-paced retailing era,” said Peter Zaballos, chief marketing officer and senior vice president, SPS Commerce. “With a comprehensive view of demand, brands can better react to the rapidly changing market and emerging consumer needs across all retail channels. Analytics Expanded Insights delivers visibility that enables trading partners to easily and quickly make fact-based, data-driven decisions that increase profitability and maximize sales.”
“Expanded Insights gives Crocs visibility we’ve never had before into our sales and forecasting,” said Philippe Libert, senior director of demand management, Crocs. “With the analysis from Expanded Insights, our planners can better identify trends and other factors that impact sell through rates across all of our channels.”
Expanded Insights also:
- Levels the retail playing field for small and mid-market companies. Many smaller and mid-market companies don’t have the resources available to have a multi-million dollar big data system, along with a group of analysts to support it. Thus, they are unable to get an in depth, extensive view of their business. With Expanded Insights, this view becomes affordable, giving smaller companies the data they need to go head-to-head with competitors of all sizes.
- Eliminates manually generated analysis. Many suppliers still use Excel spreadsheets and other outdated, time-intensive, manual methods for collecting and analyzing retail business intelligence, making it impossible for them to respond to sales spikes, product promotions and more in a timely manner. By connecting external data with point-of-sale data from the SPS retail network, Expanded Insights users can rapidly perform complex multi-sourced analyses without manual effort. Now organizations can spend time analyzing the business not assembling time intensive reports.
- Fosters agility. Prior to e-commerce and its immediate access to sales, several days would pass before companies could respond to sales performance. With the wealth of data provided by Expanded Insights, companies can quickly react to meet their promotional goals by using the data to assess if additional discounts are needed and, if so, whether in physical stores or across ecommerce channels or both.
“Digital influence continues to drive transaction volumes and Analytics Expanded Insights gives us invaluable agility and insight across multiple channels so we can pinpoint trends and advise our retail partners on their inventory mix,” said Ted Li, senior vice president of Americas, Quiksilver. “Having disparate data sources merged into one location assists us in helping our retailers keep pace with consumer demands, industry trends and the competition.”
Sage Kuttler of Callaway Golf, agrees: “Analytics Expanded Insights gives us unprecedented visibility into our sales to ensure we’re supplying the right product mix to the right markets and geographies at the right time, something especially helpful for the seasonal nature of golf. And with broader, more accurate data, we can more effectively track sales and inventory trends to uncover new sales opportunities.”
About SPS Commerce
SPS Commerce perfects the power of trading partner relationships with the industry’s most broadly adopted retail cloud services platform. As a leader in cloud-based supply chain management solutions, we provide proven integrations and comprehensive retail performance analytics to thousands of customers worldwide. SPS Commerce has achieved 65 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, please contact SPS Commerce at 866-245-8100 or visit www.spscommerce.com.
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