Board at NRF 2020: A New Path to Retail Planning
Insight from the show floor into Board's unified platform for retail analysis, planning, and forecasting
We've got the ability to then drill down and drill anywhere within the dimensionality and the hierarchy of the data. So you're empowering the user to make better-informed business decisions on their own data without having the need to go back to IT.
Business Development Manager
00:00:38Hello and welcome to NRF 2020. My name is John Strickland and I look after retail for Board International. So thanks for dropping by the booth.
00:00:49When we look into retail, this is normally what I see. I see lots of disparate systems. I see a disconnection of finance, IT, operations not talking to HR, with silos of information all being scripted together with the use of Excel.
00:01:05So where Board comes into play is, in a single unified environment, we are taking data from any and multiple data sources. So that can be from an ERP, CRM, from cloud connectors into big data and a traditional data warehouse.
00:01:21Once it's in the Board environment, we can get insight into what has happened by analyzing that historic data with interactive dashboards. So scorecarding, dashboarding, reporting, and analysis. Then with the machine learning and predictive analytics side of Board, to then move into the world of budgeting, planning, and forecasting with what-if scenarios.
00:01:43So here we can see the BI section, looking at the insight of what has happened to give you foresight on what will happen. So reporting, self-service analytics, visualization, and dashboarding to then move seamlessly with workflow into the world of budgeting, planning, and forecasting. Within the context of retail, what does that look like? Once we've got some degree of normalization of what has happened to then really go into Integrated Business Planning.
00:02:11So from an Integrated Business Planning perspective, really look at the strategic objectives of the organization, which then breaks down into the tactical and operational. And from the operational side we're bringing data in from multiple data sources. We can then jump into looking at store detail.
00:02:31So here we were looking at six disparate data sources, and I can bring up the group reporting for them. Some standard metrics that we would expect to be seeing within the context of retail. So what we were doing was, as I say, aggregating across the estate to give them detailed reports. And what these reports were doing, was showing them the metrics by region.
00:02:55So as we went through, we were doing sales this week, last week, the sales variance against target sales, footfall, footfall conversion, the average transaction value, the units per transaction, the store metrics by rating, the metrics by store brand, the sales and footfall by store grade, and the sales and footfall by day. Because it's a Board object, we've got the ability to then drill down and drill anywhere within the dimensionality and the hierarchy of the data. So you're empowering the user to make better-informed business decisions on their own data without having the need to go back to IT.
00:03:33So hopefully that's shown you that Board is an integrated platform, allows you to genuinely take data from any and multiple data sources, visualize it with stunning interactive dashboards, but then, using the predictive analytics and machine learning, take you into the world of budgeting, planning, and forecasting, genuinely within a single unified environment.
00:03:56Okay, thank you so much for your time today. I hope that's been useful. Please look at Board.com and have a look at some of our case studies that we have in retail. We've also got some great video assets that we can show you some of our use cases. Please come and visit us anytime at NRF.Thank you for your time today.