Why TIBCO for Retail
As consumer behavior continues to evolve amid the proliferation of devices and customer touch points, retailers need to adapt rapidly to emerging trends in order to succeed. They need to capitalize on the opportunities presented by new markets, consumer behavior, channels and products while successfully containing operational costs for maximum margins.
To achieve agility in this environment, retailers need to evolve their IT systems towards a flexible, event-driven IT infrastructure that allows disparate applications to share and analyze information in real time to determine the next best interaction with their customers. The ability to combine and understand customer data across all your channels while it is in motion can help you seize short-term revenue opportunities occurring at the point of customer impulse, purchase or decision-making. Imagine combining this knowledge with the immediacy of location-aware mobile technologies: As customers enter your store, send them an offer based on their past online and offline behavior, your store inventory and their loyalty level. This evolution towards event-based infrastructure is particularly relevant to retailers: If you wait until the events come to rest in a database, customers will have already left your store and you’ve lost the opportunity to engage them.
TIBCO's Event-Enabled Platform Harnesses Retail's Big Data
TIBCO offers an event-driven platform connecting applications, data, people and processes, ensuring that events and data from one application are available, reliable and actionable for other applications in real time. Our innovative event-processing technologies allow you to make sense of the billions of events flowing through your business so you can optimize your decision-making. You detect and act on actionable moments, whether it's an opportunity to up-sell, or a problem in your supply chain that you can plan for.
TIBCO Event-Enabled Solutions for Retailers
- Multi-Channel Integration. Integrate your in-store, online, and mobile channels to provide a consistent, unified customer experience and capture all customer interactions so you can understand them better and present the right experience at the right time.
- Proactive Marketing. Detect, anticipate and respond to opportunities to engage customers across all channels. Personalize your promotions as you suggest up-sell and cross-sell opportunities based on situational awareness, including past and present customer behavior and events.
- Supply Chain Optimization. Optimize time-to-shelf, and achieve visibility across the supply chain for improved inventory, forecasting, and planning. Optimize inventory, replenishment planning, and restocking to prevent lost sales.
Track Record in Retail
TIBCO's robust, standards-based infrastructure technologies are used by successful retailers around the world, including five of the world's largest mass merchandise retailers. Our collaboration with retailers enables us to achieve deep industry expertise as we execute using proven methodologies and best practices. Retailers use TIBCO solutions to solve a broad array of challenges, including:
- Predictive Customer Interaction. Using TIBCO solutions to manage customer information across its channels, one North American retailer correlated customer data from its financial, marketing, CRM and other systems, enabling them to leverage this data against business rules to send relevant and targeted promotional offers to its 65 million loyalty customers.
- New Product Introductions. Applying TIBCO master data management (MDM) technologies, a global retailer accelerated new product introductions in its online store by streamlining the process of adding the product information into the company's systems. The time to get new products to its web store fell to two days from five, as the complexity of manually managing the process was removed, eliminating duplicative steps that accounted for 66% of the process.
- Supply chain optimization. Applying TIBCO master data management (MDM) technologies, many retailers and consumer goods manufacturers provide supply chain data to its trading partners, using standardized product data enabled by the Global Data Synchronization Network (GDSN). This allows the manufacturer to coordinate new product introductions with retailers and partners and ensure they have the required and compliant information to distribute and merchandize the new products.
A global retailer reduces supply chain inefficiencies, cutting costs by more than 10%.