Thursday, 30 March, 2023

Power of retail insights

At a glance

  • KPMG has released their new analytics retail product called Dash
  • The platform combines business retail data with three billion external data points for greater insight
  • Uses AI algorithms for fast and accurate predictions

What’s new?

Dash is a new digital product from KPMG UK that will help businesses in the retail sector do better analysis. The technology combines business data with AI and three billion external data points to make an interactive insights dashboard to help companies to make better business decisions and make predictions and recommendations. KPMG has used automation to ensure that big and small businesses can use Dash. Retailers face rising prices and economic headwinds, so understanding customer behaviour is mission-critical. Data must have a role in strategy development.

Key points

Here are some of the critical points of Dash

  • Predictive analytics for retail
  • Macro and micro view of business
  • Improves everyday decisions
  • AI algorithms for wider predictions
  • Insights based on external data – markets, customers and product categories
  • Wide variety of customer and democratic data
  • Finding products for customers

Key thinking and insights

Speed is of the essence in retail, and if you can get good, timely predictions based on accurate context, this is worth considering.

In the past, retail businesses had to look at a massive quantity of information from different platforms and systems. The vast majority of data is in-house and often takes a long time to generate, which could mean a loss of opportunity. 

Having a cloud platform like Dash can speed up this process. Key decision-makers can reduce the time it takes to get the information they need to make critical decisions, often in real-time. Also, combining vast amounts of external data can give a broader context with more accurate results.

Bottom line

  • Every company should use AI-assisted technology like this to reduce time and improve decision-making
  • Analyse what datasets you have and what you need that will align with your strategy
  • Compare different cloud packages that would best suit your company

More information

Please note

I have no affiliation with the companies/technology/people mentioned, and it is designed to highlight the thinking. This analysis is 100% independent for the benefit of the data/business community.

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