In the Gartner Blog. Insightful piece. An area we worked on for years. If anything this article over complicates the problem, but it is good to see a more modern approach, with new approaches and data sources. Following up. Robert, send me more on this view and I will comment.
Advanced analytics are critical for modern and effective retail assortment planning by Robert Hetu
Having just completed publication of the 2017 Critical Capabilities For Retail Assortment Management Applications it’s a great time to reinforce the importance of using new advanced analytic capabilities. Advanced analytics and big data from sources like the Internet of Things (IoT) are enablers of customer-centric assortments as well as effective category planning and management. This year’s research placed special emphasis on provision of advanced analytics as key differentiation for assortment planning and category management solutions. Gartner describes this as “Algorithmic Retailing”.
Algorithmic Retailing
Retailers must transition from Excel-based planning to these more advanced solutions to improve speed and accuracy of planning. Any advanced solution under consideration should utilize the majority of these capabilities or should be dropped from consideration. ... ."
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