All our implementations so far have demonstrated that we can uplift margins and sales in our customers. Margin uplifts have been on average 2% (on revenues). This is straight to the bottom line. Sales uplifts vary, but have been as high as 3%.Why is it possible to find margin opportunities of this magnitude in established retailers, and how does Profimetrics find and exploit these opportunities?
We believe the opportunities exist because up to now most retailers work on averages, in every respect, and the average is the enemy of the good. In addition, with the volumes of stores and the size of product ranges, it is hard with today's systems to optimise the performance of every product in every store every day.Profimetrics moves away from averages and works at store/sku level.
Profimetrics also changes the systems paradigm. Traditional retail systems provided retailers with access to information in data warehouses, using BI tools. This of course assumes the user knows what insight he/she is looking for.
Because retail is detail, this is like looking for needles in haystacks. It is almost impossible for people to digest the amount of information being presented to them. Profimetrics does the heavy lifting of data analysis for the users and only presents to them 'alerts & recommendations', spotting all the optimisation opportunities. This makes it easier to see and act on those opportunities.Lastly, Profimetrics uses advanced mathematical algorithms for forecasting, calculating elasticities, cannibalisation and halo effects, these combined with other statistical co-relations allows us to create insights which are not possible by querying information.