The Devil’s In the Data and We Put Halos Around It
If numbers tell a story, the data you look at plays a large role in determining if the ending is happy or sad. Some of the biggest brands in retail have turned to us to improve and shape important decisions that influence the overall direction their products will take. These partnerships have resulted in sustained, incremental ROI — the most important number of the all.
We use a special blend of approach, analysis, and action items to identify new opportunities and deliver on a better bottom line. Common analytical deliverable include:
- Weekly sales reporting that utilizes our web-based reporting tool, allowing users to drill down — even by SKU-level or store-level geography — into the sources of growth and misses.
- Triggers for action at retail. We build, with our client, a dashboard that focuses on where the manufacturer or retailer can take action to improve sales. Often, these results lead directly to incremental orders and sales in stores that would have otherwise been out of stock. Combined with our field team’s execution, this is a powerful way to make sure that all of the best stores are consistently running at full speed.
- Grading stores to identify which needs more attention. Using demographic data at a store level, we can typically model projected sales and compare with actual sales to zero in on the biggest opportunities.
- Determining ROI. Good manufacturers are constantly trying new things — new products, new promotions, and new ways to execute. Premium tracks what is working and what is not and why so programs can be changed and improved, even mid-execution.
Most importantly, our clients are more than just a number when it comes to number crunching. Goals are unique from company to company. From product to product. Every analytics project we undertake is built on a rock-solid foundation of not only industry experience and expertise, but on consultation and communication as well.
And the head of our retail analytics team? He holds an MBA from MIT and was the former head of strategy for one of the largest Home Improvement channels in the country: Home Depot. That’s tangible knowledge and insight only Premium Retail Solutions can offer.
So we do more than just give reports. We give action items based upon those reports to get you where you want you profit margins to be — faster.