Velocity

VELOCITY® is a retail data platform that, according to the vendor, provides timely and accurate insights into consumer demand and supply. It is designed to meet the needs of both large and mid-sized consumer goods manufacturers and retailers. This solution is utilized by sales professionals, marketing professionals, supply chain professionals, information technology professionals, and data and business analysts in the consumer goods industry. VELOCITY® aims to enhance on-shelf availability, optimize promotion execution, manage retail replenishment, analyze sales and marketing performance, and effectively launch new products.

Key Features

On-Shelf Availability: According to the vendor, VELOCITY® enables users to accurately identify, predict, and resolve out-of-stocks (OOS) and phantom inventory issues in near-real time. It provides a holistic view of on-shelf availability, allowing users to focus on SKUs and retailers that require immediate attention. Collaboration with retail partners is facilitated to make appropriate adjustments and recommendations for ensuring on-shelf availability and continued growth.

Promotion Execution & Analysis: VELOCITY® helps improve demand forecasting for future trade promotions and determine appropriate store allocations. It accelerates post-promotion analysis with daily retail sales data, aiming to drive deeper insights and maximize return on investment (ROI). Users can analyze current promotional activity along with pre- and post-promotion data to measure lift by store, chain, region, market, and channel.

Retail Replenishment: VELOCITY® provides an end-to-end view of retailer replenishment cycles for supply chain, sales, marketing, and finance teams. It assists in identifying and addressing root causes of out-of-stocks, low weeks of supply (WOS), and store-level anomalies to optimize retail replenishment and maintain optimal inventory levels. The goal is to reduce stockouts, overstocks, cost overruns, out-of-dates, and markdowns to increase sales and revenue.

New Product Launch: VELOCITY® integrates daily SKU- and store-level retail data with additional performance data to precisely measure product launches. Users can make data-driven decisions on whether to promote, continue promoting, or stop promoting an item, pull the product, or pause efforts and regroup. The platform also facilitates the identification of underperforming stores, allowing users to reinvest marketing spend with top performers to maximize rollout investments.

Sales & Marketing Analytics: VELOCITY® seamlessly integrates syndicated, demographics, weather, social media, and other third-party data to identify sales trends and effectively respond to consumer demand shifts. Users can perform fact-based sales comparisons by SKU, store, chain, region, market, and channel to find sales opportunities and improve planning and forecasting accuracy. The platform aims to strengthen relationships and collaborative planning with retailers at all levels using data-driven sales stories.

Information Technology: VELOCITY® offers an industry-leading, robust, scalable advanced analytics platform to meet reporting and analysis needs across enterprises. It streamlines POS and inventory data collection, integration, and harmonization with master, enterprise, and third-party data. The platform aims to gather and manage retail data efficiently, providing trustworthy data for advanced retail analytics and insights generation.

Data & Business Analysts: VELOCITY® allows data and business analysts to leverage harmonized point-of-sale (POS) and inventory data for all SKUs by store. This enables the identification of sales trends, inventory risks, and market condition shifts. Retail sales analyses can be performed, and business decisions can be based on enriched, precise daily data to uncover valuable insights and make data-driven decisions. The platform aims to reduce the time spent on collecting, cleaning, and harmonizing disparate data, allowing analysts to focus on strategic initiatives that improve operational efficiencies and drive business growth.