Since I last wrote about 11 Ants they have increasingly focused on retail analytics to help retailers make the most of their transactional data and loyalty program data. 11 Ants new Retail Analytics Platform is designed to address a number of initiatives in retail – integrating customer behavior deeply into metrics, being consistently customer-centric across marketing and store management, being more quantifiable in decision-making generally, and supporting test and learn approaches to experimentation and improvement.
11 Ants RAP is a cloud-hosted retail platform that consumes a retailer’s transactions, customer data, merchandizing and other data. The platform is designed to leverage this data to help retailers go from product-centric to product AND customer-centric. This change of focus is increasingly important in retail and yet breaks the way retailers have traditionally handled analytics. In particular the huge multiplicative effect of customers x products x time means that cubes and other manual analytic tools simply won’t scale.
The platform has modules for executives, merchandizing and marketing, regional/store managers and suppliers all from a common set of data. There are lots of analytics including, for instance, a category performance analytics module that shows a number of customer-centric KPIs, such as customer penetration, number of customers, number of times people purchased, how many they purchased and how much they paid. The impact of each of these elements on revenue (positive or negative) is clearly shown in a cumulative bar. This can be analyzed for the company as a whole, a category, a single product or even a single promotion for a single product. Similarly the demographics of customers, the way people buy it, the other things they buy with it etc can all be viewed.
Central to the value proposition of 11 Ants RAP is that once data is loaded in all this kind of reporting is immediately live and available – the analytics are handled automatically. This allows, for instance, baselining as well as the identification of under or over performing stores and the calculation of the revenue impact of getting everyone to the baseline by products. Users can pick different metrics, different periods and comparison periods, and view things in a customer or product-centric way.
All the modules use the automated analytic algorithms that 11 Ants developed to generate large numbers of attributes, segment customers, and calculate propensity scores before applying these analytics to all customers and presenting the results.
A present this is designed to be very interactive, very focused on decision support. As many retailers have huge numbers of products and customers they are also considering how best to leverage this analytic platform to drive automated decisions.
You can get more information on 11 Ants RAP at www.11AntsAnalytics.com. 11 Ants Analytics platform products remain available and 11 Ants Analytics is one of the vendors in our Decision Management Systems Platform Technology Report.