InsightPlanning: Optimize Buy Depths for Inventory Efficiency

Stocking out of winning products and overbuying underperformers costs retailers trillions of dollars every year. Match supply to demand with voice-of-the-customer predictive analytics.

How Much Product Should You Buy?

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For retailers and wholesalers, assortment planning success relies on accurate forecasting.

Meet financial and strategic goals with InsightPlanning.

Typically, buy quantities are set by analyzing historical sales data. However, determining product quantities for new items with no sales history is complex and challenging.

Correctly defining the appropriate items and associated buy ratios will drive accurate plans and enable more successful assortments, thereby maximizing sales and margins and reducing inventory.

Video Clip:

Doing More with Less & Serving the Consumer Better at Kohl's

(1:20) Featuring:
Dan Plas, Senior Vice President - Enterprise Digital & Ecommerce
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Utilize real-time consumer preference data to influence buy quantities.

Many disparate data sources influence which new products to offer, as well as how to price and buy those products.

The relationship between consumer preference and sales performance is strong. The ability to align these relationships across various store clusters or segments can determine the appropriate quantities of products to position in the merchandise plan.

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Combine predictive analytics and machine learning to align with customer preferences

Use voice-of-customer feedback along with data from your planning system to reduce the risk in defining your assortments. This approach results in a more accurate assortment mix that can be configured to meet your organization’s current financial and strategic goals.

Within 24-72 hours, you will have an item-based forecast for new products which leverages 10 years of First Insight’s machine learning and predictive analytics. Results are typically 4-10% margin gains.

How It Works

First Insight’s Next-Gen Experience Management Platform provides a powerful, scalable, and easy-to-integrate solution that informs all the business decisions you face. Through advanced analytics including human computational modeling, Bayesian mathematical models, predictive analytics and APIs, First Insight’s platform represents a proven, breakthrough solution that helps you anticipate outcomes so you can build financial plans that you can achieve.

Understand More Through Better Listening

Create Better Experiences, Faster

The Most Advanced And Mature Predictive Analytics Tools On The Market

Artificial Intelligence… Predictive Analytics… Machine Learning…
Everyone claims they have them, but not all are alike. First Insight’s patented approach uses a straightforward consumer engagement technique, requires fewer customer respondents, and provides more accurate output for better business decisions than other tools.

And you receive actionable results within 24-48 hours – much faster than most other solutions.

From Startups to Global Brands, Our Customers Get Results

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Are Your Decisions Based On Instinct? History? Hope?

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