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Analytics Evolution and its Impact on Retailers Over the last decade, we have seen Data Analytics evolve at a tremendously fast pace. With the introduction of Big Data, the Cloud, Data Warehouses, and Artificial Intelligence, Data Analytics had to move with the times…fast. Despite analytics playing a key role in technology, many are unable to
3 Common Startup Myths Meet the Team Cognira Series If you google the difference between a startup and a well-established company, there will be pages worth of opinions, editorial pieces, case studies, and more. While some assumptions are well-justified, there are a few startup myths that need to be challenged. In our second installment of
The importance of a vision and mission Meet the Team Cognira Series The first task of any new business owner? Create a vision and mission. Regardless of whether you’re running a one-person operation or a 1,000+ person corporation, developing clear vision and mission statements is vital for setting up your employees and company for success.
COVID-19 forces grocers to focus on targeted promotions The impact of COVID-19 on the grocery experience This month officially marks one year since the United States was impacted by the COVID-19 pandemic, including the grocery and retail industry. In a matter of twelve months, consumer behavior has drastically changed, influencing the shopping experience and requiring
Creating a Successful Data Science Team in Retail Data Science has the power to positively impact retail companies due to its fact-based data-driven insights. Though successful Data Science teams are often associated with technology companies, many successful retail companies are utilizing Data Science daily to further drive their success and stay ahead of their competitors
Choosing an optimal forecasting system for your retail company Forecasting is critical to any retail company. Without having a forecasting process in place, it is near impossible to have the right stock on hand. Too much merchandise in the warehouse means your inventory is collecting dust, and not enough on the shelves can hurt your
How grocers can effectively run the right promotions in 3 steps Are you running the right promotions? Are you giving away too much margin? Did you know that 89% of Grocers don’t have the data needed to analyze promotions? This means that many Grocers don’t know how their promotions performed, nor have an accurate reason for why they chose their
What your inventory can tell you about your promotional strategies Many retail challenges, like promotions and inventory management, impact and require coordination across many areas of the business. It is key as a retail business to work across functional areas and bring different perspectives to the table. Below are some thoughts about promotions from the POV of
3 Ways excess data can stunt your growth We love data. But we also know excess data can be a bad thing. Here are three ways we’ve seen retailers use data to their detriment and some ideas on how to avoid these pitfalls. 1. Analyzing anecdotes One data challenge we’ve seen is people manually reviewing
Were there really 132 artificial intelligence companies at NRF? OVERVIEW Artificial intelligence and machine learning were a huge buzz at NRF, and it seemed like every other booth had some mention of it. The NRF program listed 132 exhibitors as “AI” providers in their guide. Are AI and machine learning truly that pervasive and are
Category Management: Definition, Benefits, and Role in Effective Promotion Planning
Discover the Leading Retail Media Networks Of 2024
How to Increase your retail promotion effectiveness with machine learning
A 2024 Outlook into the Future of Retail Promotions
Day 3 @ NRF 2024 Unveiled: Spotlights on Retail’s Future Path
Founded by experienced data scientists and retail experts, Cognira is the leading artificial intelligence solutions provider.