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Sales & EBR Use Cases
Small transactions can go months without being identified. Profitect automatically identifies normal and abnormal behavior using statistics, machine learning, and clusters based on entities such as store and cashier attributes. Patterns automatically highlight and correlate all fraudulent activity regardless of amount and/or timeline and alert the relevant parties to take actions. For example – finding significant smaller basket behavior would easily identify sweet hearting manipulations.
Retailers are looking to maximize how much customers are spending in stores and online. As foot traffic goes down, conversion goes up because people are only hitting stores with the intent to buy. To maximize revenue, basket analysis becomes crucial to see what items are sold together, which helps associate increase the number of transactions etc. Profitect analyzes and identifies opportunities for associates to suggest complementary items thereby increasing your transaction value and average items per transaction, while also increasing the average margin per item.
Profitect’s Sales & EBR module looks at in-store traffic data to determine when an influx of cashiers is needed. This dynamic staffing capability enables you to manage your labor more efficiently, while reducing unnecessary costs, as well as simultaneously providing a better customer experience. It also integrates with your workforce management and workforce scheduling tools to identify root cause of tenure, combined with traffic and customer service, to provide greater efficiency and sales at the same time.
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Replace existing Exception Based Reporting tools with EBR Plus capabilities. Profitect’s Sales & Exception Based Reporting module analyzes cashier and POS transactional data at the item level, detecting areas of fraud, shrink, process failures, lack of training, changes to basket, loyalty behavior, returns, labor efficiencies and noncompliance both online and in-store. The solution provides guided, easy-to-understand opportunities to the appropriate personnel for immediate action.
Leading Retail Customers
“…after all the time and money spent implementing a solution, the passive nature of the reports delivered by most vendors leaves traditional business intelligence tools underutilized and undervalued”.
John Deane, CIO, ascena retail group
Prescriptive Analytics: The EBR Plus Difference
In the world of data analytics, exception-based reporting (EBR) has long been considered the go-to for analysis. However, this approach still requires significant labor effort to identify, investigate, and close cases. More and more retailers are seeing the benefit prescriptive analytics provides because it takes all the functionality in an Exception Based Report approach and augments it for optimum value.
EBR Plus Features
- Machine learning & pattern detection to automatically identify events
- Opportunities identified in near-real time – intraday or daily
- Findings communicated to an investigator or store level associate for follow-up and closure
- Embedded workflow and close loop environment ensures accountability
- Integrated feedback (via thumbs up imagery) drives future pattern detection accuracy
- System automatically calculates ROI
- Integrated case management
EBR Plus Benefits
- Less time wasted on interpreting reports
- Ensures compliance across all stores & cashiers
- Improves processes and accountability across the organization
- Easily identify root causes in order to spend less time chasing “ghosts”
- Leverage knowledge through collaboration
- Easy prioritization based on ROI to deliver maximum value
- Pragmatic Artificial Intelligence (AI) ensures system is continually learning and evolving
- Fast implementation with little to no IT involvement required
Areas Profitect Analyzes
- Traffic and conversion rates
- Margin erosion
- Discounts and coupons
- Price adjustments
- Basket analysis
- Fraudulent activities
- Refund abuse
- Employee discounts
- Average basket value
- Labor productivity
- Sales per labor role
- Productivity per cashier and department
- Online shipment address
- Tender card address
- IoT from endless PoC
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Prescriptive Analytics is Making Waves with Retail and CPG Companies