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May 14, 2015

Accenture delivers advanced analytics for retail insights

Company adds tools to its analytics platform.

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Accenture is targeting the development of industry and function specific analytics applications.

Using its Analytics Applications Platform, the company wants to help users to gain quick data-driven decisions in order to gain a competitive edge.

Four additional applications have been included on the platform, which includes tools for measuring the impact of trade marketing that generates insights on promotions based on sales history, product volume and activity frequency.

Other tools include Trade Marketing Activities Optimisation, Demand Forecast and Fraud Detection, which uses a mix of business rules, anomaly detection and predictive analytics that identify risky behaviour to assign a fraud risk score to any event.

Narendra Mulani, MD, Accenture Analytics, said: "A main challenge businesses face with advanced analytics is how to present the insights in a way that enables users to make decisions that add value."

"Through the Accenture Analytics Applications Platform, applications can be created to help specific users, including business users from analysts to the C-suite, solve specific problems – you don’t need to be a data scientist to pursue data-driven company changes."

"When data is turned into an asset through analytics applications, positive transformations can be made for the business and customers alike."

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The company has also brought to the market the Spare Parts Inventory Optimisation application, this is designed to deliver demand forecasts for spare parts.

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