Data Sharing Enables Leading Retailers Such as A&P to Increase Collaboration and Improve Sales Strategies in Stores
NEW YORK (July 17, 2013) – 1010data, Inc., a market leader in the analyzing, managing and sharing of Big Data, announced today the introduction of the 1010data Retail Vendor Portal, the company’s latest innovation in data sharing and data discovery for Big Data. The 1010data Retail Vendor Portal is a cloud-based portal that enables retailers to share their proprietary data– including point of sale (POS), inventory, loyalty and more – with their supplier partners (vendors.) The new portal allows a retailer's vendors to work with and analyze the same data the retailer does in order to collaborate on mutual business goals.
"We are always looking for ways to share data and foster a consultative partnership with our vendors in order to collaborate on new programs and merchandising strategies,” said Richard Angelillo, A&P Head of IT Strategy & Delivery. “By leveraging the 1010data Retail Vendor Portal we can now store, share and allow our vendors to analyze data using a common platform -- ultimately allowing us to better serve our customers.”
“Data analysis and sharing have long played an important role in retail; however, until now, the results have been limited by the constraints and unnecessary costs of traditional technology approaches,” said Sandy Steier, CEO of 1010data. “Moreover, vendors previously had to work with summarized and aggregated data that took days, if not weeks, to assemble and analyze. The 1010data Retail Vendor Portal provides retailers with the ability to share current, granular data that yields insights within minutes. Using 1010data retailers and vendors can keep up with the fast pace of changing customer trends and make relevant decisions that enhance profitability.”
The 1010data Retail Vendor Portal
The 1010data Retail Vendor Portal allows retailers to manage, analyze and share their data with vendors via the cloud. It includes a library of pre-built analytical reports that allow users to easily glean insights that lead to better decision-making and help drive sales. Vendors can also leverage 1010data’s Trillion Row Spreadsheet for data discovery and answers to all of their ad-hoc questions.
The 1010data Retail Vendor Portal program is a turnkey program that includes full training, ongoing education and marketing for the portal.
For a retailer, the 1010data Retail Vendor Portal,
- Provides one convenient location to house all of its data
- Enables complete control over which data is shared with which vendors
- Gives vendors the intelligence they need to make decisions about how to drive more business through the retailer’s stores
- Helps eliminate channel disputes by creating a single source of truth where the retailer and its vendors are using the same data for decision making
For a vendor, the 1010data Retail Vendor Portal,
- Allows analysis across sales, supply chain management, co-merchandising,
- innovation, category management, brand and marketing strategies
- Includes both pre-built analytic reports and ad-hoc data discovery tools so the
- vendor can easily gain insights with just a few clicks of the mouse
- Helps the vendor serve as a trusted advisor to, and increase collaboration with, the retailer
- Permits users to link third-party data such as weather and demographics
A&P, the newest 1010data Retail Vendor Portal customer, is working with 1010data to share its data and better collaborate with its hundreds of vendors. The 1010data Retail Vendor Portal replaces a legacy solution and provides new analyses such as shopping basket affinities and promotion insights that allow A&P and its vendors to understand how customers’ wants and needs change over time. These insights will help ensure A&P is stocked with the right products in the right stores at the right time for their customers.