What’s your data telling you? Stay ahead of the demand curve.
EmcienPatterns connects the dots between all products, customer segments and transactions, giving retailers, distributors and consumer product companies actionable insight into each and every item in inventory based on buying patterns.
How does it do it? EmcienPatterns automatically detects and analyzes correlations in your data, revealing the most valuable relationships between customer segments, categories, items and transactions.
Equipped with this insight, end users can:
- Increase revenue by knowing what your customers want and how they buy — ahead of the competition.
- Drive sales by understanding your customers buying patterns.
- Reduce inventory levels on items that aren’t selling and aren’t connected to other items, thereby continuing to boost customer service levels.
Solution Features
Customers consistently buy high selling items with other low-selling products. Now you can automatically sell additional or complementary items to existing customers.
- Automatically detects, evaluates and measures linkages between products.
- Ranks them based on the correlation and the frequency of sales.
- Makes it easy to decide which groupings to leverage.
Benefit:
Significantly impact the bottom line by increasing transaction size and improving margins.
Cutting the long end of the tail may seem like the quick and easy approach to inventory reduction. This may negatively impact the sales of another, high selling item – these are your troublemakers: low-selling items that you’re tempted to cut but doing so could impact its dependents (i.e., what it’s usually bought with).
Benefit:
- Avoid losing sales from unseen product dependencies.
- Maintain optimal inventory levels.
Why sell separate, individual items when customers usually buy them together? Product Bundling identifies small groups of items that can be packaged and purchased together based on real-time data.
Benefit:
- Increase sales of lower volume/slow-moving items.
- Initiate cross-promotional selling on high-selling, dependent items.
Unclog the delivery chain and improve merchandising efforts by ordering, stocking and selling the, more profitable items.
- Reduce inventory by removing low-volume, slow-moving items that are not linked to other product purchases.
- Determine the profitability of delisting a product based on low-frequency buying patterns and no-item dependencies.
Benefit:
- Avoid lost sales.
- Reduce inventory levels.
- Increase inventory turns.
A sold-out product doesn’t have to result in a lost sale. Rather, it can be an opportunity to engage customers and help them select a substitute. The pattern-detection platform identifies which products are popular substitutes for one another based on historical sales patterns, linkages and commonalities.
Utilizing this insight, you can automatically recommend alternative products without extensive training or experience.
Benefit:
- Reduce inventory levels.
- Ensure product availability.
- Reduce shopping cart abandonment – both online and offline.
Keep track of the entire operation through the graphical analysis of real-time and historical transaction records according to:
- Seasonality.
- Order size.
- Fastest moving categories of products.
Benefit:
- Improve sales.
- Reduce inventory levels.
- Avoid stock-outs.
Data-driven insights to improve sales, reduce inventory levels, and avoid stock-outs.
The Technology
Emcien’s patented pattern-detection platform represents a significant breakthrough in data analytics solutions – specifically designed to handle the volume, velocity and variety of Big Data. Emcien’s powerful algorithms are designed to overcome the limitations of legacy BI and database tools. Read more about the technology >>
