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Creating An Enterprise Data Strategy

The data & analytics team of a leading regional retailer with over 200 stores wanted to break down data silos, accelerate the customer insights process and democratize fact-based insights across the organization. Learn more- http://www.tredence.com/industires/retail #retailanalytics #retail

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157 views5 pages

Creating An Enterprise Data Strategy

The data & analytics team of a leading regional retailer with over 200 stores wanted to break down data silos, accelerate the customer insights process and democratize fact-based insights across the organization. Learn more- http://www.tredence.com/industires/retail #retailanalytics #retail

Uploaded by

Tredence Analytics
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CASE STUDY

Creating an enterprise
data strategy
to drive insights democratization for a retailer
with $15B in annual sales
The data & analytics team of a leading
regional retailer with over 200 stores wanted
to break down data silos, accelerate the
customer insights process and democratize
fact-based insights across the organization.
Historically, the team relied on stitching
together data across scattered tables and
writing time-intensive queries to answer the
most common business questions.

As a result, only a handful of expert data


scientists were able to unlock value from
their data, leading to an analytic backlog
and intuition-based decision-making.

Benchmark their data and analytics


maturity with the best retailers to
identify priority areas of focus

Define their data structure and pipelines Our solution approach


to improve processing and analyst
productivity We helped the client build a best practice
data and analytics roadmap following a
Integrate data from legacy silos to three-step approach:
create an enterprise data warehouse
and complete view of the customers Benchmarked the retailers current state
to best in class to help identify the
Build a data monetization roadmap to optimal analytics roadmap
improve the collaborative business
planning process with partners and Designed the optimal data structure,
maximize the value of their data tables and metrics to maximize
productivity
Implement the optimal data structure,
table aggregates and pre-calculated Built foundational data tables and
metrics in production in less than 3 pipelines to empower data scientists
months to enable their business with and democratize data across the
enhanced insights during the key organization
holiday season

2 © 2022 Tredence. All Rights Reserved.


Benchmarking to best-in-class interviews to understand the retailer’s data
retailers and analytics strategy, map all data
sources/tables, identify business
According to recent Forrester research, stakeholders, analyze use-cases and
organizations that leverage advanced uncover users’ pain points.
data and insights are growing 2.8X faster
than organization that lack a clear The retailer’s “as-is” data and analytics
data and insights roadmap and capability. capabilities were then benchmarked to
The challenge for most retailers isn’t best in class regional and national retailers
lack of data, but data locked in legacy silos to identify priority gaps. Capabilities were
and dearth of strategies to build a benchmarked using a comprehensive
data foundation and analytic roadmap to assessment framework including data
unlock the value of their data. foundation, organization and talent,
governance, technology and tools, data
Tredence maturity assessment democratization and the use of analytics in
the decision process. In each assessment,
Data scientists spend 50-80% of their time the retailer was able to see their score
preparing and cleaning data. Like many against their peers, detailed observations on
retailers, our client had data scattered the current process vs. best in class, and a
across the organization with no centralized recommended pathway to reach top tier
governance strategy. To map the current status.
landscape, Tredence conducted +40

3 © 2022 Tredence. All Rights Reserved.


Our solution appproach

Designing the optimal data strategy

The retailer’s data complexity meant that only two data scientists could harness the power of
their data, creating a significant analytics bottleneck. The analyses that should have taken
hours were taking days, if not weeks.

Tredence took a user-persona and business case approach to define the retailer’s data
strategy. To accelerate the speed to insights, four foundational data layers were defined that
integrated data from legacy sources and commonly used pre-built metrics:

300+ new metrics defined to create consistency across analysts,


significantly reducing processing time and minimizing “human
error” in calculations

Integrated data tables and pre-processed metrics reduced


analysts’ project time by more than 50%, allowing them to focus
on more strategic insights

Data integration enabled richer insights that improved marketing,


personalization, e-commerce site and merchandising decisions

Building the foundational data warehouse

Like most retailers, the holiday season was a key driver for the client’s business. Their IT
department locked the changes in late October to ensure zero disruption to their production
systems. Given the benefits of the enhanced data foundation, the retailer wanted to implement
the proposed data structure before the system locks in. The challenge was that their internal IT
resources and legacy offshore partner estimated that the work could only be completed
by the February of the following year.

Tredence, having built the data strategy before, quickly onboarded a team from our data
engineering practice and completed the build of the foundational data warehouse by the end
of September, beating their legacy providers’ estimate by nearly 6 months.

4 © 2022 Tredence. All Rights Reserved.


The impact to the key
holiday season:

> 1,000 FTE


data scientist hours saved

Improved
personalization

Higher
customer retention

Increased
promotion ROI

Bottom Line: The client leveraged


Tredence’s expertise to develop and
execute a best-in-class data and
analytics roadmap

With Tredence’s data and analytics


roadmap, the client was able to define their
enterprise data mission and vision supported
by a multi-year roadmap to transform their
data and analytics capabilities. Leveraging
the optimal data strategy recommendations
Tredence built the client’s foundational data
warehouse which significantly improved
analyst productivity and democratized
insights across the organization. This
foundational data warehouse work set the
stage for future game-changing advanced
data and analytics capabilities, increased
organizational analytics literacy and external
monetization opportunities.

Want to know more about us? Visit:


www.tredence.com/industires/retail

© 2022 Tredence. All Rights Reserved.

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