Data-Driven Digital Transformation in Luxury Travel Retail
Like every business, the Travel Retail industry is experiencing the changes in global consumer behavior, the and sees the need for omni-channel and data-driven solutions. One of our key clients is a leader in Luxury Travel Retail, and presented their approach to data-driven digital transformation at Informatica World 2017 in San Francisco. (The name of the customer is not mentioned in this story, in respect of their corporate policy)
If you have ever traveled internationally, you may have shopped at duty free airport store or downtown travel retail department store. Indeed, you may be one of the 200 million visitors to their stores every year, looking for a gift for yourself or a loved one across their assortment of Perfumes and Cosmetics, Fashion and Luxury Goods, or Spirits, Wine and Food. I am personally keen on checking out some great new deals on sunglasses with every trip.
Why is digital transformation a big deal?
“The days of predictable consumer behavior is over. The customer today and tomorrow has higher expectations and is always on and connected everywhere”, said the presenter at Informatica World, before finally concluding “Our current ways of working cannot cope regarding people, processes and technology.”
The luxury retailer is seizing opportunities and wants to gain more time for strategic thinking with a data-driven digital transformation. From using Informatica’s MDM they pointed out to establish consistent trusted data, automate low-value tasks, enable omni-channel customer experience, and single version of the truth of their products and working smarter for all people involved in the go to market process of selling more products faster.
Businesses facing challenges of getting their luxury goods to sell have been inconsistent with inaccurate data. Great efforts have been required to get answers on where to find which information and the processes of collaboration have shown different, inconsistent approaches, said the business lead on the project.
They underwent a Data Governance maturity assessment
In a world impacted by data-driven digital transformation, data governance has become as essential as it never was before. Our customer underwent a data governance assessment and compared themselves to industry standards, using, governyourdata.com. and recognized they must take action.
Outcomes: content enrichment capacity went up by +350%.
When asking for business outcomes using Informatica, the business lead on the project mentioned that their objective is to deliver consistent trusted data, and to give staff easy access to answers and standardized business processes. If you are working with products in Fashion, you will immediately see the value of mapping 2500 colors to 12 color families for easy analysis and eCommerce customer experience.
Beyond that, it was great to see that our client realized measures to business outcomes in terms of their operational efficiency, by reducing the steps to enrich a product for eCommerce, speeding up translations, and reducing email exchange for finding digital assets down to zero. Finally, according to the IT lead on the project, the improvement in content enrichment capacity went up by +350%. Wow!
Of course, this client underwent a market assessment of vendors to find the right solution to support their intelligent disruption with data. We tend to ask our clients what they valued with Informatica the most. In this case, it was:
- Best user interface, met most business requirements
- Understanding the need of the customer
- Well-developed partner ecosystem and a long track-record of partner-led project implementations (please also read: Three things to consider when selecting and MDM implementation partner )
Integrations with Translations.com, Hybris, SAP Integration via ESB, Business Intelligence systems integration via ESB.