Optimizing retail store operations to better reach consumers with the latest and greatest through data collection with analytics continues to be an overarching goal for many companies. A leading global footwear and apparel company wanted to streamline the way they use reporting to manage and operate the business in order to take full advantage of the vast amounts of data from their stores and online channels. Primarily focused on reporting, the organization was spending many hours each week going through dense, tabular reports to operate the business and lacked advanced analytical capabilities.
Clarkston partnered with the business to consolidate the client’s complex IT reporting and analytics technology landscape and build a strategy for analytics and reporting architecture and capabilities. To ensure that the strategy would be sustainable and growth-oriented, data engineering and global business insights teams were also established as part of the endeavor. A few primary objectives set by Clarkston were to identify and prioritize leading analytics use cases based on value to the business in the language of success metrics like incremental revenue, establish and formalize a sustainable platform and process for analytics, test the new analytics organization, processes, and suite of tools to identify any gaps in productionizing analytical solutions, and gather, clean, explore, and analyze data sets relevant to conversion, including point of sale data, customer foot traffic, employee staffing records, cash register utilization, inventory, weather, and seasonality.
One of the most valuable key benefits of this project was that this quantified the previously unknown impact of key factors on conversion and revenue within stores coming out of the data strategy. Clarkston led the company to activate their new analytics organization through a pilot project to quantify the organizational levers of in-store conversion and tie conversion rates to revenue.