Dunnhumby joins forces with JDA for retail data platform
Dunnhumby and JDA Software Group have unveiled the first fruits of their partnership, which the duo claim will enable retailers to maximise their shopfloor space to increase customer loyalty and return on inventory, as well as deliver a more effective customer experience.
JDA Assortment Optimization – Powered by Dunnhumby combines Dunnhumby's customer data science analytics with JDA's category management capabilities.
The scheme is part of JDA's next-generation solutions which embrace technologies such as advanced analytics, artificial intelligence, the Internet of Things, machine learning and SaaS.
JDA senior director of product management Kent Ruesink said: "With new products constantly hitting the market, retailers are challenged to retain shoppers through in-store layouts, with a mix of new products, best sellers and private labels within limited shelf space. Combine that with securing maximum market share with fewer stock-outs and narrow profit margins, and it is a significant challenge.
"With this solution, we are unlocking crucial insights into shopper behaviours like never before, enabling retailers to deliver true shopper-centric merchandising plans with localised assortments, offers, and space plans built to drive further automation, sales and profitable growth."
It is claimed the solution prescriptively generates assortment recommendations, using the best performing products based on sales and customer-based insights, to answer customer needs while also optimising available shelf space.