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Overview of Retail industry data model (preview)

  • Članek

Important

Some or all of this functionality is available as part of a preview release. The content and the functionality are subject to change.

Retailers generate immense amount of data during various phases of retail lifecycle. However, retailers find it difficult to harness, analyze this data and be able to generate valuable insights that can lead to improving their operational efficiency and bottom line. Some of the most key problems faced by retailers are:-

  • Data fragmentation, due to data stored in various systems and formats.

  • Data retrieval becomes time consuming as it takes immense amount of effort / time to extract information.

  • Data inconsistencies in data lead to errors and misinterpretations impacting key decision making.

  • Inadequate data governance leads to issues related to data quality, governance and compliance.

Retail industry data model is a blueprint that is used by retailers to plan, architect and design data solutions for data governance, reporting, business intelligence and advance analytics. This capability allows retailers to use the full or subset of the data model to meet their specific needs. Some of the key advantages of this model are:-

  • Enable retailers to use a subset or full industry data model for retail to meet their specific needs.

  • Organize different types of data generated within the retail eco system in a structured framework.

  • Define relationship and rules governing the data leading to data consistency and accuracy, which helps in key decision making.

  • Drive data simplification strategy across the organization by simplifying cross application integration and workflows.

  • Create meaningful reports, insights and visualizations with effective analytics and business intelligence.

  • Adapt easily to adapt to changing business needs and adjusting the data model to accommodate new data sources, changing business processes and adopting to new technologies.

Retail data model is essential for creating a coherent and efficient system for managing and using data in the retail sector. It ensures accuracy and consistency of data but also supports the strategic use of this information for informed decision-making and business success.

Features of Retail industry data model

  • Configure full or few entities from the retail database template through guided user experience.

  • Transform and store the data in the retail database template and view the data through Fabric interface.

  • Extend the standard entities that are deployed through the deployment experience to meet customer specific needs.

  • Add/remove entities post install based upon the business need.