Oracle has unveiled Oracle Retail Merchandising Analytics to offer retailers a new prebuilt business intelligence application that incorporates performance metrics across the entire enterprise and promotes a faster response to market opportunities.
Oracle Retail Merchandising Analytics uses Oracle Business Intelligence Applications to access and analyze data from multiple applications such as financial and workforce management, customer relationship management (CRM) and retail operations. The merchandising-specific business intelligence application provides insight to critical performance indicators such as item sales, store performance, efficacy of promotions and markdowns, inventory turn, sales and profit trends and current and potential out-of-stocks.
Included across all of the business intelligence dashboards is the ability to act on those insights, enabling users to order more stock, re-allocate merchandise or kick off a promotion triggered by metric thresholds. This type of "closed-loop or guided analytics" uses embedded actions to make it easier for users to act on the information they view in a dashboard or report.
Oracle plans to expand the Oracle Retail Analytics family of next-generation business intelligence applications, addressing areas to meet emerging customer needs. Oracle Retail Analytics applications are optimized to run on Oracle Exadata Database Machine and Oracle Exalogic Elastic Cloud and deliver the extreme performance required to accommodate retailer data volumes without sacrificing depth of analysis.
Oracle Retail Analytics applications integrate with Oracle and non-Oracle applications and can be implemented alone or collectively to accommodate each retailer's unique information needs and application environment. The prebuilt nature of the solution enables customers to achieve fast time to value by reducing deployment time and help lower overall total cost of ownership.
Reports are delivered to mobile devices and desktops in a variety of formats, a capability further enabled by the application's use of Oracle Business Intelligence Enterprise Edition Oracle Retail Merchandising Analytics is currently available and includes packaged integration with the Oracle Retail Merchandising product family and relevant analytics.
"As competition accelerates across mobile, e-commerce and retail channels, retailers require business intelligence solutions that address their unique challenges, out of the box," said David Dorf, Senior Director, Product Strategy, Oracle Retail. "Oracle Retail Analytics deliver the best of our retail-industry expertise combined with Oracle's best-in-class technology to help customers better analyse the deluge of data generated across all channels."