Oracle has announced enhancements to Oracle Retail Category Management, which helps grocers, big box retailers, hardlines and department stores improve sales through a customer-centric planning process that helps to create tailored assortments, pricing and promotions to specific customer segments.
According to the company, the new release delivers several updates that help deliver actionable insights, identify valuable customer segments, and accelerate time-to-value. The new release of Oracle Retail Category Management enables retailers to accelerate planning using pre-configured, automated processes aligned to industry best practices that incorporate advanced data analysis and visualization leveraging multiple data sources including market data along with a retailer's own data.
Oracle Retail Category Management reduces implementation time and cost with expanded templates and data models that dramatically simplify integration of data from multiple third-party syndicated data sources including internal sources, such as customer loyalty cards and point of sale information.
It improves profitability by helping to create space-aware, tailored, assortments by using new embedded forecasting, customer segmentations and consumer decision trees. Built on the Oracle Retail Predictive Application Server, Oracle Retail Category Management is the latest solution update within the suite of planning, optimization, forecasting and supply chain solutions that are based on the flexible and scalable platform, the company said.
"Oracle Retail Category Management provides grocers, hardlines and other retailers with a significant step forward in creating a better customer experience through targeted product offerings," said Mike Webster, senior vice president and general manager, Oracle Retail. "The solution helps to define, speed up and improve the category management process and enables managers to leverage better insight to create category winners and drive performance."