describes a set of processes that collect and analyze information as data from inside and outside an organization. The information is used to increase a vertical brand’s own understanding of the factors that influence its businesses.
Companies use both business data and qualitative inspection of working practices to verify and adapt the methodologies, theories and business models that ground their critical business decisions. In RETAIL, business data mining and analysis can be used to improve performance in all areas from BUSINESS MANAGEMENT to decision making, from sales to MERCHANDISING MANAGEMENT and price definition, from talent performance management to targeted marketing initiatives.
Business performance reviews combine quantitative and qualitative analysis to create rich, multidimensional direction for planning and aligning business activities daily. When integrated into the regular working cycle, BUSINESS DATA ANALITICS processes facilitate the ALIGNMENT of all factors and aspects of the multichannel businesses within the vertical brand’s strategic planning.
Particularly within OMNICHANNEL and commercially integrated environments, the analysis and verification of information coming from each outlet and division of the business, together with its qualitative interpretation, enable the company to improve flows and overall operational efficiency. For example, it can more carefully plan its budgets, better define its stock needs, design adequate pricing structures and organize its supply chain. In marketing and customer service the organization can enhance the customer experience and shorten service delivery time by using the data verification of sales and customer purchasing patterns and preferences, to foresee trends and adapt activities responsively.
Praxis has the experience and knowledge clients require to analyze brand and retail businesses both quantitatively and qualitatively, bringing together an understanding of the market with a client’s historical data review extracted from a selection of internal and external systems.
Focused on the point at which product, talent and customer management meet, Praxis quantitatively examines the entirety of the client’s international activities and creates reports that can easily be integrated in to the daily working routine.
Praxis collaborates with its clients’ IT and BI teams, identifying ways of connecting business data and operational tasks; it explains numerical analysis in an accessible and simple manner, and trains teams comprehensively if required.
Praxis' teams develop an understanding of their client’s business through qualitative auditing, visiting clients’ operations at all levels of the organization in shops, factories and offices. They analyze product, interview talent and review the behavior of final customers, adopting a qualitative approach that adds value and texture to the numerical data.
Paying attention to the data at a micro and macro level, Praxis understands the analytics as an interconnected, evolving puzzle, ensuring a nuanced and informed view on their client’s operational reality.
Praxis works on location wherever an organization’s various activities are based – be it South China, Milan or Osaka.