GET MORE FROM YOUR GRAPH WITH BEE6, POWERED BY BEEZ.
Retail has seen immense growth in the amount of data that is generated over the past decade. Legacy systems that are difficult to integrate with newer systems combined with ever more complicated advertising and marketing campaigns make the role of the data scientist much more critical. 200 exabytes of data are being produced today, and the retail industry has exacerbated this because of the proliferation of retail systems.
MARKET BASKET ANALYSIS
Make complex Market Basket Analysis easy with the BEE6 no code, data pipeline to better predict customer behavior.
Increase sales 5% with our basket analysis
Over 100 separate data points feed basket analysis
An ongoing challenge in retail is influencing customer’s grouping of product purchases to maximize sales and profit. Bee6 enables the identification of antecedent (driver) items and consequence items and provides measures to demonstrate the quality of the association (support, confidence, and lift). In addition, Bee6 makes it easy to perform more granular basket analysis leveraging other factors such as weather, geography, demographics, associate selling skills, and promotional events. Bee6 helps you bring together all of the data points necessary to perform complex graph analytics to identify what drives customer purchase behaviors.
MEDIA & ADVERTISEMENT OPTIMIZATION
Uncover ways to optimize the ROI of total marketing spend through the data connections of the BEE6 data pipeline.
Retailers spend large sums of money on marketing, advertising, and media placement. While measuring return on investment (ROI) for this spend is relatively straightforward, few retailers fully understand why their marketing efforts did or did not work. The data to develop a comprehensive view of marketing program performance is often fragmented across multiple platforms and tools. Bee6 unites organizational data and enables retailers to dissect performance in a multitude of ways. Review performance by category, geographic location, weather, customer segment, against competitive ads, or other factors. Bee6 enables retailers to quickly find what worked, why it worked, and uncover ways to optimize the ROI of total marketing spend.
Create complex data connections to optimize the shopping experience and create a unified view of the customer.
There is more customer data available today than ever before. Yet, retailers are still struggling to identify patterns and trends in customer data. Retailers have traditionally developed segmentation models based on one of four models: demographic, geographic, behavioral, or psychographic. However, few retailers have successfully built more granular, focused segments that leverage elements of all four models. Retailers need ways to navigate the complex relationships inherent in highly attributed customer data to develop personalized segments that optimize the lifetime value of their customers. Beez connects fragmented customer information to assist in creating a single identity that can be used to create a comprehensive view of customer attributes and behavior. This broad view of the customer is the foundation for creating the level of segmentation needed to drive the personalized experiences that increase loyalty and spend.
SUPPLY CHAIN OPTIMIZATION
With ever-changing customer demands, use the BEE6 data pipeline to quickly understand your supply chain operations and upgrade your business analytics.
Retail supply chains are typically heavy analytics users to understand performance and the factors that impact product availability. However, few supply chains were prepared for the level of volatility that was experienced during the COVID-19 pandemic. Supply chains need to rapidly shift to changes in customer demand, material outages, regulations and standards, and suppliers. With Beez, retailers can develop unprecedented visibility of all of the factors that impact their supply chain. This visibility enables retailers to understand their operations and associated costs in new ways. Retailers can isolate supply vulnerabilities and develop pre-emptive plans to deal with outages and other disruptions. The improved visibility enables creating strategies that effectively balance product availability and costs to achieve the optimal customer experience.
INTERNAL FRAUD DETECTION
Use the graph database to create relationships throughout data to easily uncover fraud analytics and stop fraudsters before massive losses throughout retail.
Losses averaged $719,548 per $1 billion in sales, a 2% increase from last year and the fifth year in a row that the figure topped the $700,000 mark
Retailers lost over $60B in profits in 2019 to theft, fraud, and other losses. Internal fraud schemes such as barcode switching, loyalty fraud, unauthorized manager pin usage, and barcode sliding are often hard to detect. The nuisance patterns hidden in retail transactional data require sophisticated analytics to detect. Bee6, leveraging the power of graph analytics, can help uncover these patterns. Adding the component of people relationships (employees, suppliers, customers) also adds granularity to the analytics to help Loss Prevention professionals quickly identify and solve cases.