The future of retail is data
July 15, 2020
Retail data is a vital resource that must be harnessed to support existing business partnerships and to help meet future needs. Data helps create multiple operational efficiencies and cost benefits for our retail members, suppliers and partners.
At NARTA, we use a highly secure, single gateway cloud environment called MKTVUE.COM (‘MKTVUE’). Using MKTVUE, our stakeholders can securely access sales and inventory data.
Every aspect of our business, including the management of the Supply Chain is noted to ensure business runs smoothly. To forecast consumer demands and to meet those demands, we combine retail expertise with world-class data science. Using MKTVUE, our team is able to create Demand Sensing and Consensus Forecasting programs for our Members and Suppliers.
As MKTVUE becomes the single source of truth, the main areas of future opportunity are found in the integration of Marketing data, Demand Forecasting, Product Life Cycle Management and Replenishment and Logistics. As we work towards our business goals and meeting consumer needs, there’s no doubt that data will drive the future of retail.