Businesses around the world are facing a lot of disruptions due to Covid-19. Every industry is somehow affected by the pandemic, and retail is no different.
Even after when the pandemic might be over in many parts of the world, its impact seems to be everlasting.
From a lack of manpower due to social distancing norms to increased expenditures to ensure maximum safety, retailers are being challenged in a multitude of ways.
The pandemic has also somewhat altered the market and how it operates.
The costs of production and operations are approaching the sky and manpower efficiency seems to be continuously curtailing. It might not be the case for everyone but a majority of retailers have witnessed a decline in revenue and overall efficiency.
Yet, it is also true that many retail businesses thrived even in those uncertain times.
Using technology was undoubtedly the best decision those clever retailers made to get an edge over their competitors during the pandemic.
While moving towards e-commerce is a great step, it’s not the only technological aid available for retailers.
Digital strategy for retailers encompasses many more things than just selling online.
So why and how retailers need to relook at their operations and digital strategy. And is there a way retailers can turn the disruptive environment into opportunities?
Real-time insights to power operations
Most retailers have already undergone a digital transformation amid the pandemic. And many of them were already digitalized much before the pandemic arrived at their doors.
However, what lays the foundation of a successful digital transformation is improved efficiency in all terms. And it was something that many retailers lacked even after initiating a digital transformation.
Using data to power operations sits at the center stage of digital.
Real-time monitoring of data can guide actions and decisions around marketing, sales, expenditures, or customer experience.
The problem is there is so much data to analyze and it is always scattered coming from different sources. An absence of a powerful tool that allows both storage and processing of data is what deters companies from gaining valuable real-time insights.
Oracle Autonomous Data Warehouse solved the problem significantly. Oracle autonomous data warehouse coupled with Oracle analytics cloud is all that retailers need to gain valuable real-time insights.
Retailers can make use of the powerful oracle cloud infrastructure and competitive tools like Oracle Autonomous Data Warehouse to analyze trends in consumption, delivery, marketing, transactions, etc.
Oracle Autonomous Data Warehouse uses a converged database that can support multimodel data and processes like SQL analytics, machine learning, spatial, AI, etc.
There is so much more one can do with Oracle Autonomous Data Warehouse and Oracle analytics cloud, from building data models, visualizing insights to developing complex data-driven programs.
As Oracle states, many large-scale retailers use their cloud infrastructure to gain transforming insights and trends.
Moreover, Oracle has made the process of operating a data warehouse so much easy. With automation handling most of the processes, Oracle autonomous database makes enterprises more agile and competitive in real terms.
Innovate Inventory management
Thoughtful inventory management is critical to ensure successful and smooth retail operations. However, managing inventory is challenging when you don’t know which product should take up more space and which should not.
When handling multiple stores, inventory management gets even more challenging. Analyzing data can solve a multitude of questions considering inventory management.
From finding the best time to ship products to store to foreseeing what product can see a rise in demand, the advantages of using insights to power actions can be remarkable.
But how retailers can achieve all this? What they need is a powerful and intelligent data warehouse solution and an infrastructure that puts data processing on steroids.
Luckily, Oracle’s autonomous data warehouse has all of it. Backed by powerful Oracle cloud infrastructure, Oracle Autonomous Data Warehouse enables loading and integrations of scattered data and machine learning algorithms to deliver valuable insights and trends.
Automation and other powerful features also reduce manual interventions and the need to regularly engage with IT teams.
To go a step further, Oracle Autonomous Data Warehouse makes it possible to run complex machine learning algorithms and find trends that facilitate supply chain and inventory management.
Discover the powers of Oracle Autonomous Data Warehouse
The process of analyzing data to fuel growth cannot be simpler. Oracle Autonomous Data Warehouse is a highly scalable solution that can turn the tables around for retailers like you.
Whether it is about maximizing revenue, decreasing costs, or improving efficiency, leveraging Oracle’s Autonomous Data Warehouse can enable retailers to do the right thing at the right time.
The tool is powered by Oracle’s cloud infrastructure, hence you can be sure of its powers.
