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Get connected. Be connected. Make connections. Find connections. The Internet of Things (IoT) is all about connecting people, processes, data and, as the name suggests, things. The recent social media frenzy surrounding the ALS Ice Bucket Challenge has certainly reminded everyone of the power of social media, the Internet and a willingness to answer a challenge. Fueled by personal and professional connections, the craze has transformed fund raising for at least one charity. Similarly, IoT may potentially be transformational to the business of the public sector, should government step up to the challenge.
Government is struggling with the concept and reality of how IoT really relates to the business of government, and perhaps rightfully so. For commercial enterprises, IoT is far more tangible and simply more fun. Gaming, televisions, watches, Google glasses, smartphones and tablets are all about delivering over-the-top, new and exciting consumer experiences. Industry is delivering transformational innovations, which are connecting people to places, data and other people at a record pace.
It’s time to accept the challenge. Government agencies need to keep pace with their commercial counterparts and harness the power of the Internet of Things. The end game is not to deliver new, faster, smaller, cooler electronics; the end game is to create solutions that let devices connecting to the Internet interact and share data, regardless of their location, manufacturer or format and make or find connections that may have been previously undetectable. For some, this concept is as foreign or scary as pouring ice water over their heads. For others, the new opportunity to transform policy, service delivery, leadership, legislation and regulation is fueling a transformation in government. And it starts with one connection.
One way to start could be linking previously siloed systems together or creating a golden record of all citizen interactions through a Master Data Management (MDM) initiative. It could start with a big data and analytics project to determine and mitigate risk factors in education or linking sensor data across multiple networks to increase intelligence about potential hacking or breaches. Agencies could stop waste, fraud and abuse before it happens by linking critical payment, procurement and geospatial data together in real time.
This is the Internet of Things for government. This is the challenge. This is transformation.
The Catalog is Dead.
According to the Multi Channel Merchant Outlook 2014 survey, the eCommerce website (not a surprise ) is the top channel through which merchants market (90%). The social media (87.2%) and email (83%) channels follow close behind. Although catalogs may have dropped as a marketing tool, 51.7% of retailers said they still use the catalog to market their brands.
Source: MCM Outlook 2014
The Changing Role of the Catalog
Merchants are still using catalogs to sell products. However, their role has changed from transactional to sales tool. On a scale of 1 to 10, with 10 being the most important, merchant respondents said that using catalogs as mobile traffic drivers and custom retention tools were the most important activities (both scored an 8.25). At 7.85, web traffic driver was a close third.
Source: MCM Outlook 2014
Long Live the Catalog: Prospecting
More than three-quarters of merchant respondents said catalogs were the top choice for the method of prospecting they will use in the next 12 months (77.7%). Catalog was the most popular answer, followed by Facebook (68%), email (66%), Twitter (42.7%) and Pinterest (40.8%).
What is your point of view?
How have catalogs changed in your business? What are your plans and outlook for 2015? It would be very interesting to hear points of views from different industries and countries… I’d be happy to discuss here or on Twitter @benrund. My favorite fashion retailer keeps sending me a stylish catalog, which makes me order online. Brands, retailer, consumer – how do you act, what do you expect?
Informatica Cloud Summer ’14 Release Breaks Down Barriers with Unified Data Integration and Application Integration for Real Time and Bulk Patterns
This past week, Informatica Cloud marked an important milestone with the Summer 2014 release of the Informatica Cloud platform. This was the 20th Cloud release, and I am extremely proud of what our team has accomplished.
“SDL’s vision is to help our customers use data insights to create meaningful experiences, regardless of where or how the engagement occurs. It’s multilingual, multichannel and on a global scale. Being able to deliver the right information at the right time to the right customer with Informatica Cloud Summer 2014 is critical to our business and will continue to set us apart from our competition.”
– Paul Harris, Global Business Applications Director, SDL Pic
When I joined Informatica Cloud, I knew that it had the broadest cloud integration portfolio in the marketplace: leading data integration and analytic capabilities for bulk integration, comprehensive cloud master data management and test data management, and over a hundred connectors for cloud apps, enterprise systems and legacy data sources.. all delivered in a self-service design with point-and-click wizards for citizen integrators, without the need for complex and costly manual custom coding.
But, I also learned that our broad portfolio belies another structural advantage: because of Informatica Cloud’s unique, unified platform architecture, it has the ability to surface application (or real time) integration capabilities alongside its data integration capabilities with shared metadata across real time and batch workflows.
With the Summer 2014 release, we’ve brought our application integration capabilities to the forefront. We now provide the most-complete cloud app integration capability in the marketplace. With a design environment that’s meant not for just developers but also line of business IT, now app admins can also build real time process workflows that cut across on-premise and cloud and include built-in human workflows. And with the capability to translate these process workflows instantly into mobile apps for iPhone and Android mobile devices, we’re not just setting ourselves apart but also giving customers the unique capabilities they need for their increasingly mobile employees.
“Schneider’s strategic initiative to improve front-office performance relied on recording and measuring sales person engagement in real time on any mobile device or desktop. The enhanced real time cloud application integration features of Informatica Cloud Summer 2014 makes it all possible and was key to the success of a highly visible and transformative initiative.”
– Mark Nardella, Global Sales Process Director, Schneider Electric SE
With this release, we’re also giving customers the ability to create workflows around data sharing that mix and match batch and real time integration patterns. This is really important. Because unlike the past, where you had to choose between batch and real time, in today’s world of on-premise, cloud-based, transactional and social data, you’re now more than ever having to deal with both real time interactions and the processing of large volumes of data. For example, let’s surmise a typical scenario these days at high-end retail stores. Using a clienteling iPad app, the sales rep looks up bulk purchase history and inventory availability data in SAP, confirms availability and delivery date, and then processes the customer’s order via real time integration with NetSuite. And if you ask any customer, having a single workflow to unify all of that for instant and actionable insights is a huge advantage.
“Our industry demands absolute efficiency, speed and trust when dealing with financial information, and the new cloud application integration feature in the latest release of Informatica Cloud will help us service our customers more effectively by delivering the data they require in a timely fashion. Keeping call-times to a minimum and improving customer satisfaction in real time.”
– Kimberly Jansen, Director CRM, Misys PLC
We’ve also included some exciting new Vibe Integration packages or VIPs. VIPs deliver pre-built business process mappings between front-office and back-office applications. The Summer 2014 release includes new bidirectional VIPs for Siebel to Salesforce and SAP to Salesforce that make it easier for customers to connect their Salesforce with these mission-critical business applications.
And lastly, but not least importantly, the release includes a critical upgrade to our API Framework that provides the Informatica Cloud iPaaS end-to-end support for connectivity to any company’s internal or external APIs. With the newly available API creation, definition and consumption patterns, developers or citizen integrators can now easily expose integrations as APIs and users can consume them via integration workflows or apps, without the need for any additional custom code.
The features and capabilities released this summer are available to all existing Informatica Cloud customers, and everyone else through our free 30-day trial offer.
In the journey from a single-purpose cloud CRM app to the behemoth that it is today, Salesforce has made many smart acquisitions. However, the recent purchase of RelateIQ may have just been its most ingenious. Although a relatively small startup, RelateIQ has gained a big reputation for its innovative use of data science and predictive analytics, which would be highly beneficial to Salesforce customers.
As relevant from the acquisition, there is little doubt that the cloud application world is making a tectonic shift to data science and the appetite for Big Data to be pieced together to fuel the highly desired 360-degree view is only growing stronger.
But while looking ahead is certainly important, those of us who live in the present have much work yet still to accomplish in the here and now. For many, that means figuring out the best way to leverage data integration strategies and the Salesforce platform to gain actionable intelligence for our sales, marketing and CRM projects – today. Up until recently, this has involved manual, IT-heavy processes.
We need look no further than three common use cases where typical data integration strategies and technologies fail today’s business users:
Automated Metadata Discovery
The first, and perhaps most frustrating, has to do with discovering related objects. For example, objects, such as Accounts, don’t exist in a vacuum. They have related objects such as Contacts that can provide the business user – be it a salesperson or customer service manager, with context of the customer.
Now, during the typical data-integration process, these related objects are obscured from view because most integration technologies in the market today cannot automatically recognize the object metadata that could potentially relate all of the customer data together. The result is an incomplete view of the customer in Salesforce, and a lost opportunity to leverage the platform’s capability to strengthen a relationship or close a deal.
The Informatica Cloud platform is engineered ground up to be aware of the application ecosystem API and understand its metadata. As a result, our mapping engine can automatically discover metadata and relate objects to one another. This automated metadata discovery gives business users the ability to discover, choose and bring all of the related objects together into one mapping flow. Now, with a just a few clicks, business users, can quickly piece together relevant information in Salesforce and take the appropriate action.
Bulk Preparation of Data
The second instance where most data integration solutions typically fall short is with respect to the bulk preparation of data for analytic runs prior to the data transformation process. With the majority of Line-of-Business (LOB) applications now being run in the cloud, the typical business user has multiple terabytes of cloud data that either need to be warehoused on-premise or in the cloud, for a BI app to perform its analytics.
As a result, the best practice for bringing in data for analytics requires the ability to select and aggregate multiple data records from multiple data sources into a single batch, to speed up transformation and loading and – ultimately – intelligence gathering. Unfortunately, advanced transformations such as aggregations are something that is simply beyond the capabilities of most other integration technologies. Instead, most bring the data in one record or message at time, inhibiting speedy data loading and delivery of critical intelligence to business users when they need it most.
Alternatively, Informatica has leveraged its intellectual property in the market-leading data integration product, PowerCenter, and developed data aggregation transformation functionality within Informatica Cloud. This enables business users to pick a select group of important data points from multiple data sources – for example, country or dollar size of revenue opportunities – to aggregate and quickly process huge volumes in a single batch.
In-App Business Accelerators
Similar to what we’ve experienced with the mobile iOS and Android platforms, there recently has been an explosion of new, single-purpose business applications being developed and released for the cloud. While the platform-specific mobile model is predicated on and has flourished because of the “build it and they will come” premise, the paradigm does not work in the same way for cloud-based applications that are trying to become a platform.
The reason for this is that, unlike with iOS and Android platforms, in the cloud world, business users have a main LOB application that they are familiar with and rely on packaged integrations to bring in from other LOB cloud applications. However, with Salesforce extending its reach to become a cloud platform, the center of data gravity is shifting towards it being used for more than just CRM and the success of this depends upon these packaged integrations. Up until now, these integrations have just consisted of sample code and have been incredibly complex (and IT-heavy) to build and very cumbersome to use. As a result, business users lack the agility to easily customize fields or their workflows to match their unique business processes. Ultimately, the packages that were intended to accelerate business ended up inhibiting it.
Informatica Cloud’s Vibe Integration Packages (or VIPs) have made the promise of the integration package as a business accelerator into a reality, for all business users. Unlike sample code, VIPs are sophisticated templates that encapsulate the intelligence or logic of how you integrate the data between apps. While VIPs abstract complexity to give users out-of-the box integration, their pre-built mapping also provides great flexibility. Now, with just a few keystrokes, business users can map custom fields or leverage their unique business model into their Salesforce workflows.
A few paragraphs back I began this discussion with the recent acquisition of RelateIQ by Salesforce. While we can make an educated guess as to what that will bring in the future, no one knows for sure. What we do know is that, at present, Salesforce’s completeness as a platform – and source of meaningful analytics – requires something in addition to run your relevant business applications and solutions through it. A complete iPaaS (Integration Platform as a Service) solution such as Informatica Cloud has the power to make the vision into reality. Informatica enables this through the meta-data rich platform for data discovery, Industry leading data and application integration capabilities and business accelerators that put the power back in the hands of citizen application integrators and business users.
Join our webinar August 14 to learn more: Informatica Cloud Summer 2014: The Most Complete iPaaS
In the media there is a constant discussion about a mismatch between the skills that education provides and the capabilities graduates bring to the work place. And, whether they are prepared for work. The lack of large data set use means that skills needed by employers may be missing. I will outline the skills that could be gained by working with large data sets.
Some types of data handling are just high volume. Business intelligence and analytics consume more data than 20 years ago. Handling the increasing volume is important. Research programming and data science are truly part of big data. Even if you are not doing data science, you may be preparing and handling the data sets. Some industries and organisations just have higher volumes of data. Retail is one example. Companies that used to have less volume are obtaining more data as they adapt to the big data world. We should expect the same trend to continue with organisations that have had higher data volumes in the past. They are going to have to handle a much bigger big data experience.
There are practical aspects to handling large data sets. These can lead to experience in storage management and design, data loading, query optimization, parallelization, bandwidth issues and data quality when large data sets are used. And when you take on those issues, architecture skills are needed and can be gained.
Today, the trends known as the Internet of Things, All Things Data, and Data First are forming. As a result there will be demand for graduates who are familiar with handling high volumes of data.
The responsibility for using a large data set falls to the student. Faculty staff need to encourage this though. They often set and guide the students’ goals. A number of large data sets that could be used by students are on the web. An example of one data set would be the Harvard Library Bibliographic Dataset available at http://openmetadata.lib.harvard.edu/bibdata. Another example is the City of Chicago that makes a number of datasets available for download in a wide range of standard formats at https://data.cityofchicago.org/. The advantage of public large data sets is the volume and the opportunity to assess the data quality of the data set. Public data sets can hold many records. They represent many more combinations than we can quickly generate by hand. Using even a small real world data set is a vast improvement over the likely limited number of variations in self-generated data. It may be even better than using a tool to generate data. Such data when downloaded can be manipulated and used as a base for loading.
Loading large data sets is part of being prepared. It requires the use of tools. These tools can be from loaders to full data integration tool suites. A good option for students who need to load data sets is PowerCenter Express. It was announced last year. It is free for use with up to 250,000 rows per day. It is an ideal way to experience a full enterprise data integration tool and work with significantly higher volumes.
Big Data is here and it is a growing trend. And so students need to work with larger data sets than before. It is also feasible. The tools and the data sets the students need to work with large data sets are available. Therefore, in view of the current trends, large data set use should become standard practice in computer science and related courses.
With practically every on-premise application having a counterpart in the SaaS world, enterprise IT departments have truly made the leap to a new way of computing that is transforming their organizations. The last mile of cloud transformation lies in the field of integration, and it is for this purpose that Informatica had a dedicated Cloud Day this year at Informatica World 2014.
The day kicked off with an introduction by Ronen Schwartz, VP and GM of Informatica Cloud, to the themes of intelligent data integration, comprehensive cloud data management, and cloud process automation. The point was made that with SaaS applications being customized frequently, and the need for more data insights from these apps, it is important to have a single platform that can excel at both batch and real-time integration. A whole series of exciting panel discussions followed, ranging from mission critical Salesforce.com integration, to cloud data warehouses, to hybrid integration use cases involving Informatica PowerCenter and Informatica Cloud.
In the mission critical Salesforce.com integration panel, we had speakers from Intuit, InsideTrack, and Cloud Sherpas. Intuit talked about how they went live with Informatica Cloud in under four weeks, with only two developers on hand. InsideTrack had an interesting use case, wherein, they were using the force.com platform to build a native app that tracked performance of students and the impact of coaching on them. InsideTrack connected to several databases outside the Salesforce platform to perform sophisticated analytics and bring them into their app through the power of Informatica Cloud. Cloud Sherpas, a premier System Integrator, and close partner of both Salesforce.com and Informatica outlined three customer case studies of how they used Informatica Cloud to solve complex integration challenges. The first was a medical devices company that was trying to receive up-to-the-minute price quotes be integrating Salesforce and SAP, the second was a global pharmaceuticals company that was using Salesforce to capture data about their research subjects and needed to synchronize that information with their databases, and the third was Salesforce.com itself.
The die-hard data geeks came out in full force for the cloud data warehousing panel. Accomplished speakers from Microstrategy, Amazon, and The Weather Channel discussed data warehousing using Amazon Web Services. A first-time attendee to this panel would have assumed that cloud data warehousing simply dealt with running relational databases on virtual machines spun up from EC2, but instead participants were in enthralled to learn that Amazon Redshift was a relational database that ran 100% in the cloud. The Weather Channel uses Amazon Redshift to perform analytics on almost 750 million rows of data. Using Informatica Cloud, they can load this data into Redshift in a mere half hour. Microstrategy talked about their cloud analytics initiatives and how they looked at it holistically from a hybrid standpoint.
On that note, it was time for the panel of hybrid integration practitioners to take the stage, with Qualcomm and Conde Nast discussing their use of PowerCenter and Cloud. Qualcomm emphasized that the value of Informatica Cloud was the easy access to a variety of connectors, and that they were using connectors for Salesforce, NetSuite, several relational databases, and web services. Conde Nast mentioned that it was extremely easy to port mappings between PowerCenter and Cloud due to the common code base between the two.
“Start your master data management (MDM) journey knowing how it will deliver a tangible business outcome. Will it help your business generate revenue or cut costs? Focus on the business value you plan to deliver with MDM and revisit it often,” advises Michael Delgado, Information Management Director at Citrix during his presentation at MDM Day, the InformaticaWorld 2014 pre-conference program. MDM Day focused on driving value from business-critical information and attracted 500 people.
In Ravi Shankar’s recent MDM Day preview blog, Part 2: All MDM, All Day at Pre-Conference Day at InformaticaWorld, he highlights the amazing line up of master data management (MDM) and product information management (PIM) customers speakers, Informatica experts as well as our talented partner sponsors.
Here are my MDM Day fun facts and key takeaways:
- Did you know that every 2 seconds an aircraft with GE engine technology is taking off somewhere in the world?
GE Aviation’s Chief Enterprise Architect, Ginny Walker, presented “Operationalizing Critical Business Processes: GE Aviation’s MDM Story.” GE Aviation is a $22 billion company and a leading provider of jet engines, systems and services. Ginny shared the company’s multi-year journey to improve installed-base asset data management. She explained how the combination of data, analytics, and connectivity results in productivity improvements such as reducing up to 2% of the annual fuel bill and reducing delays. The keys to GE Aviation’s analytical MDM success were: 1) tying MDM to business metrics, 2) starting with a narrow scope, and 3) data stewards. Ginny believes that MDM is an enabler for the Industrial Internet and Big Data because it empowers companies to get insights from multiple sources of data.
- Did you know that EMC has made a $17 billion investment in acquisitions and is integrating more than 70 technology companies?
EMC’s Barbara Latulippe, aka “The Data Diva,” is the Senior Director of Enterprise Information Management (EIM). EMC is a $21.7 billion company that has grown through acquisition and has 60,000 employees worldwide. In her presentation, “Formula for Success: EMC MDM Best Practices,” Barbara warns that if you don’t have a data governance program in place, you’re going to have a hard time getting an MDM initiative off the ground. She stressed the importance of building a data governance council and involving the business as early as possible to agree on key definitions such as “customer.” Barbara and her team focused on the financial impact of higher quality data to build a business case for operational MDM. She asked her business counterparts, “Imagine if you could onboard a customer in 3 minutes instead of 15 minutes?”
- Did you know that Citrix is enabling the mobile workforce by uniting apps, data and services on any device over any network and cloud?
Citrix’s Information Management Director, Michael Delgado, presented “Citrix MDM Case Study: From Partner 360 to Customer 360.” Citrix is a $2.9 billion Cloud software company that embarked on a multi-domain MDM and data governance journey for channel partner, hierarchy and customer data. Because 90% of the company’s product bookings are fulfilled by channel partners, Citrix started their MDM journey to better understand their total channel partner relationship to make it easier to do business with Citrix and boost revenue. Once they were successful with partner data, they turned to customer data. They wanted to boost customer experience by understanding the total customer relationship across products lines and regions. Armed with this information, Citrix employees can engage customers in one product renewal process for all products. MDM also helps Citrix’s sales team with white space analysis to identify opportunities to sell more user licenses in existing customer accounts.
- Did you know Quintiles helped develop or commercialize all of the top 5 best-selling drugs on the market?
Quintiles’ Director of the Infosario Data Factory, John Poonnen, presented “Using Multi-domain MDM to Gain Information Insights:How Quintiles Efficiently Manages Complex Clinical Trials.” Quintiles is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with more than 27,000 employees. John explained how the company leverages a tailored, multi-domain MDM platform to gain a holistic view of business-critical entities such as investigators, research facilities, clinical studies, study sites and subjects to cut costs, improve quality, improve productivity and to meet regulatory and patient needs. “Although information needs to flow throughout the process – it tends to get stuck in different silos and must be manually manipulated to get meaningful insights,” said John. He believes master data is foundational — combining it with other data, capabilities and expertise makes it transformational.
While I couldn’t attend the PIM customer presentations below, I heard they were excellent. I look forward to watching the videos:
- Crestline/ Geiger: Dale Denham, CIO presented, “How Product Information in eCommerce improved Geiger’s Ability to Promote and Sell Promotional Products.”
- Murdoch’s Ranch and Home Supply: Director of Marketing, Kitch Walker presented, “Driving Omnichannel Customer Engagement – PIM Best Practices.”
I also had the opportunity to speak with some of our knowledgeable and experienced MDM Day partner sponsors. Go to Twitter and search for #MDM and #DataQuality to see their advice on what it takes to successfully kick-off and implement an MDM program.
There are more thought-provoking MDM and PIM customer presentations taking place this week at InformaticaWorld 2014. To join or follow the conversation, use #INFA14 #MDM or #INFA14 #PIM.
Every company wants to see a “time to market improvement.” The wisest companies know this is only possible once you’ve mastered your internal data. One such company is Saint-Gobain, a Netherlands-based distributor of building materials. Saint-Gobain has accelerated and enhanced their customer’s multichannel experience using Informatica Product Information Management (PIM). Using Informatica PIM, Saint-Gobain has unleashed the potential of their information in the following ways:
- Ecommerce product introduction: Before using Informatica PIM, it took about one week to update a product to the website – now it is done within a few minutes.
- Everywhere commerce: The mobile app helps construction workers, on-site, to learn the details and stock availability of nearly 100,000 products and parts.
- Cross-selling: In addition to selling roof tiles, Saint-Gobain is also offering additional materials and tools as an up-sell.
- Retail stores: In addition to direct distribution, St. Gobain also sells through retailers. These specialty retailers need to create individual customer quotes which contain potential cross-sell and up-sell items. With Informatica PIM the retailers can create these custom quotes more effectively.
In the video below, Ron Kessels, Saint-Gobain’s Deputy Director of E-Business, talks about how they bring products to market more quickly while creating more opportunities for up-selling building supplies.
If you’d like to learn how your retail business can bring products to market more quickly, consider attending the Informatica World 2014 RETAIL PATH. This collection of sessions will show how to create unique customer experiences with relevant information, analytics, and relationships between data and people. In addition, the pre-conference MDM Day offers a track on “Omnichannel Commerce and Supplier Optimization”.
Arkady, you recently came back from the National Retail Federation conference. What are some of the issues that retailers are struggling with these days?
Arkady Kleyner: There are some interesting trends happening right now in retail. Amazon’s presence is creating a lot of disruption which is pushing traditional retailers to modernize their customer experience strategies. For example, most Brick and Mortar retailers have a web presence, but they’re realizing that web presence can’t just be a second arm to their business. To succeed, they need to integrate their web presence with their stores in a very intimate way. To make that happen, they really have to peel back the onion down to the fundamentals of how product data is shared and managed.
In the good old days, Brick and Mortar retailers could live with a somewhat disconnected product catalog, because they were always ultimately picking from physical goods. However in an integrated Web and Brick & Mortar environment, retailers must be far more accurate in their product catalog. The customers entire product selection process may happen on-line but then picked up at the store. So you can see where retailers need to be far more disciplined with their product data. This is really where a Product Information Management tool is critical, with so many SKUs to manage, retailers really need a process that makes sense from end to end for onboarding and communicating a product to the customer. And that is at the foundation of building an integrated customer experience.
In times of the digital customer, being online and connected always, we announced “commerce relevancy” as the next era of omnichannel and tailoring sales and marketing better to customers. What information are you seeing to be important when creating better customer shopping experience?
Arkady Kleyner:This is another paradigm in the integrated customer experience that retailers are trying to get their heads around. To appreciate how involved this is, just consider what a company like Amazon is doing. They have millions of customers and millions of products and thousands of partners. It’s literally a many to many to many relationship. And this is why Amazon is eating everybody alive. They know what products their customers like, they know how to reach those customers with those products, and they make it easy to buy it when you do. This isn’t something that Amazon created over night, but the requirements are no different for the rest of retailers. They need to ramp up the same type of capacity and reach. For example if I sell jewelry I may be selling it on my own company store but I may also have 5 other partnering sites including Amazon. Additionally, I may be using a dozen different advertising methods to drive demand. Now multiply that times the number of jewelry products I sell and you have a massive hairball of complexity. This is what we mean when we say that retailers need to be far more disciplined with their product data. Having a Product Information Management process that spans the onboarding of products all the way through to the digital communication of those products is critical to a retailer staying relevant.
In which businesses do you see the need for more efficient product catalog management and channel convergence?
Arkady Kleyner: There is a huge opportunity out there for the existing Brick & Mortar retailers that embrace an integrated customer experience. Amazon is not the de facto winner. We see a future where the store near you actually IS the online store. But to make that happen, Brick and Mortar retailers need to take a serious step back and treat their product data with the same reverence as they treat the product itself. This means a well-managed process for onboarding, de-duping, and categorizing their product catalog, because all the customer marketing efforts are ultimately an extension of that catalog.
Which performance indicators are important? How can retailers profit from it?
Arkady Kleyner: There are two layers of performance indicators that are important. The first is Operational Intelligence. This is the intelligence that determines what product should be shown to who. This is all based on customer profiling of purchase history. The second is Strategic Intelligence. This type of intelligence is the kind the helps you make overarching decisions on things like
-Maximizing the product margin by analyzing shipping and warehousing options
-Understanding product performance by demographics and regions
-Providing Flash Reports for Sales and Marketing
Which tools are needed to streamline product introduction but also achieve sales numbers?
Arkady Kleyner: Informatica is one of the few vendors that cares about data the same way retailers care about their products. So if you’re a retailer, you really need to treat your product data with the same reverence as your physical products then you need to consider leveraging Informatica as a partner. Their platform for managing product data is designed to encapsulate the entire process of onboarding, de-duping, categorizing, and syndicating product data. Additionally Informatica PIM provides a platform for managing all the digital media assets so Marketing teams are able to focus on the strategy rather than tactics. We’ve also worked with Informatica’s data integration products to bring the performance data from the Point of Sale systems for both Strategic and Tactical uses. On the tactical side we’ve used this to integrate inventories between Web and Brick & Mortar so customers can have an integrated experience. On the strategic side we’ve integrated Warehouse Management Systems with Labor Cost tracking systems to provide a 360 degree view of the product costing including shipping and storage to drive a higher per unit margins.
You can hear more from Arkady in our webinar “The Streamlined SKU: Using Analytics for Quick Product Introductions” on Tuesday, March 4, 2014.
Inspired by the fact I was coming home from a business trip on Valentine’s Day.
Money makes the world go round
In the UK Valentine’s Day ranks behind Halloween, Mother’s Day, Easter and Christmas. British men spend 622m GBP, while women spend 354m. But the average purchase is 119 GBP. Germans for example only spend 59 GBP per person. According to a survey 53 per cent of US women will dump their boyfriends who do not give them anything on this day. China invented the singles day, where 3.5b GBP have been spend in 2013. A lot Americans spend money for pet gifts generating 227m of sales on Valentine’s Day.
All you need is love?
No, all you need is the right product to sell. Retailers use a wide range of an eclectic product to sell around this day, ranging from flowers to insurance and ecigaretts. IKEA Australia made furniture relevant for love with offering a free purchase for every child born nine months from Valentine’s Day.
What GfK and Google research say
In February Google searches showed a peak for recipes and poems. According to GfK, 81 per cent are using coupons when doing the purchase for Valentine.
Where and what to shop
Supermarkets have wrapped up to be the one-stop shop for lovers in a rush. Sainsbury reports a 12 per cent growth in sales of condoms. But did you know the top 8 gift ranking?
1. Cards and eCards
3. Romantic dinners at restaurants
4. Romantic dinners at home (a condom and candles could be the perfect cross-sell to the wine and the recipe – or you plan to get pay-back from IKEA as mentioned above )
6. Jewel leery
8. Weekends away
Sorry, but I will note tell you what I bring home for my wife. But did you know Informatica World offers a retail path this year? Long tail, ecommerce, from retail to me-tail, supply chain optimization and customer centricity and interesting company speakers are on the agenda.