Quantitative Benchmarks for the Retail and Wholesale Industry

The retail and wholesale sector is another sector with abundance of data. It has been one of the first sectors in adopting BDA solutions to leverage the potential of data. On a general level, profit increase is the preferred benchmark, both in general terms but also when analyzing specific use cases. Regarding the top 3 use cases, they are all preferably evaluated with profit increase as main benchmark. The optimisation of the supply chain (and logistics behind it) can lead to relevant profit and margins increase. In creating a more transparent and interconnected view of the supply chain, retailers and wholesalers can potentially avoid disruptions, and in applying BDTs to supply chain data it is easier to forecast and predict potential issues and timely act upon them. Price optimisation is mainly regarded in terms of profits increase and the ability to properly segment customers and target them with different prices, helps organisations to leverage on margins to increase profits. The other top use case, new product development, has also a connection with the preferred qualitative benchmark, product/service quality. Retailers and wholesalers are interested in creating new products to enlarge profits and improve the quality of the products and related services offered. The quality of already existing products matched with the quality of the service offered (delivery, customer care, insurance, etc.) increase customer fidelity. With increased fidelity the organisation can collect further information and data on the customer to service him/her with new products (somehow related also to cross-selling and up-selling) boosting revenues. Other qualitative KPIs are all somehow regarded as moderately important with a good range of improvements, but still not as high as product/service quality.