CPGs to Leverage More Valuable Retail Data With VELOCITY 11
|
By Chris Spallino
New release of retail data analytics platform extends business value with increased data accuracy and speed to insights .
ANN ARBOR, Mich. (May 23, 2023) – Retail Velocity, the leader in retail data collection, reporting and analytics for consumer brands for the past 29 years, announced today the launch of the 11th generation of its VELOCITY® platform. New and enhanced capabilities provide manufacturers with more readily accessible—and the most accurate—daily point-of-sale (POS) and inventory data for both physical stores and e-commerce to accelerate time to actionable insights and strategic decision-making across the enterprise.
With this release, sales, marketing, supply chain teams and data analysts can leverage unified, near real-time consumer demand and supply data and insights to better manage on-shelf availability, trade promotion optimization, new product launches and retail execution. VELOCITY® 11 empowers brands and their retailer partners to respond rapidly and intelligently to growth opportunities, inventory risks and ever-changing market conditions to improve their sales, supply chain, and profitability.
“Consumer goods suppliers need to have confidence in their business decisions that directly affect the bottom line, which means they need to have utmost confidence in the POS and inventory data on which they base those decisions. To do that, they need precise daily item-level and store-level retail data that provides complete visibility into product, category and retailer performance,” said John Rossi, Retail Velocity CEO. “For decades, brands have relied on Retail Velocity to provide the most trustworthy unified data platform with harmonized data that can be made available to any business unit and easily shared with anyone in a company. VELOCITY® 11 brings superior speed and accuracy to retail data management for our clients and continues our commitment to the industry to provide the high-powered, most reliable engine that drives improved data quality, deeper insights, and confident decisions to meet consumer demand.”
VELOCITY® 11 provides companies with several enhancements to help them meet their enterprise-wide data requirements and initiatives:
- Fully Automated Amazon API Downloader that eliminates separate manual data downloads and utilizes one extraction request to collect more consistent, reliable data faster and more cost-effectively and that reduces lag time for report and insights generation for business teams
- Single Sign-on and Multi-Factor Authentication that offer the highest level of security and provide users easier and faster access to in-store and e-commerce daily POS data, allowing them to make timelier, collaborative strategic decisions and ensure corporate security policies are enforced and valuable data is secure
- Enhanced Web Applications designed for minimal training and greater ease of use, including a more responsive interface and intuitive navigation, design, dashboards and data visualizations
- Improved Master Item Mapping and Exception Reporting that provide the ability to capture additional fields and information for SKUs from retailers, enabling more accurate mapping to master items, reducing exception identification and correction time and allowing business users to receive the most accurate data on nearly 100% of SKUs
About Retail Velocity
Since 1994, Retail Velocity has significantly helped consumer goods manufacturers automatically collect, integrate and leverage the most timely, accurate and reliable retail sales and inventory data. Using harmonized daily demand and supply data at the item and store level, companies develop precise analytics to generate actionable insights and greater business intelligence, helping improve sell-through, eliminate operational inefficiencies and achieve profitable growth. Retail Velocity’s best-in-class cloud platform, VELOCITY®, provides one version of the truth to help enterprise users make collaborative, profitable decisions and accelerate growth for key business areas such as sales, marketing, supply chain, demand planning, finance, operations and IT.
Media Contact:
Chris Spallino
Sr. Director of Marketing and Communications
chris.spallino@retailvelocity.com
