Symphony EYC G.O.L.D. Cluster generates store groupings to drive customer-relevant assortments
Symphony EYC G.O.L.D. Cluster generates store groupings to drive customer-relevant assortments : Symphony EYC, the leading provider of software and services for retailers, wholesalers and manufacturers, announced G.O.L.D. Cluster, a new approach in intelligent store grouping for retailers to utilize and build more customer-relevant assortments. G.O.L.D. Cluster is the third application of the G.O.L.D. i2e Category Management suite, which also includes Assort for hyper-localized, space-aware assortment management and Capture for digital recognition of assortment compliance, item placement, and promotional space. G.O.L.D. Cluster brings strategic intelligence to category management by integrating demographic, loyalty and demand data to establish more granular and relevant store groups by category. This generates store groupings more closely aligned with customer preferences and behavior in addition to historical sales data. G.O.L.D. Cluster key features include:
Data Driven – leverages multiple data sources, including customer segmentation and demand information, to more closely group stores by category more appropriately and efficiently;
Analytics – end-to-end validation process effectively blends both statistical modelling and key business drivers to enable retailers to observe patterns at any product level or exclude biasing behaviors to select the most effective and relevant scenarios;
Data Visualization – integration with Google Maps allows retailers to rapidly visualize how stores are grouped and interact, qualify store fit and spot outliers, then manually re-assign stores when necessary;
Integrated – new clusters flow seamlessly into all applications within the G.O.L.D. i2e Category Management suite so that recommendations automatically inform the assortment optimization process.
“With G.O.L.D. Cluster, retailers can establish more granular and relevant store groups by each category. These intelligent clusters can then inform the assortment process more accurately when allocating items that will increase customer satisfaction,” said Matt Robinson, market development director, Symphony EYC G.O.L.D. Solutions. “From a business perspective, retailers can leverage clusters as a growth driver and align them with organizational goals to maximize sales and profitability.”
The G.O.L.D. i2e Category Management suite is driven by a web-based platform that incorporates multiple data sources to manage workflow and category tasks and drive powerful predictive analytics. As a result, it provides retailers with convenient, cost effective access to critical data and insight anytime anywhere and from any device.
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