Alteryx Sample Use Cases. Retail

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1 Alteryx Sample Use Cases Retail

2 Table of Contents Trade Area Facts... 3 Store Cannibalization... 5 Best Customer Trade Area... 7 Customer Inclusive Trade Area... 9 Product Assortment Analysis Targeted Direct Mail Lists Developing Market Optimization Test Locations Store Financial Investment Summary

3 Trade Area Facts Business Question Once a trade area is defined around a store, what are the population demographics within that trade area? Background Information Retailers need to define trade areas around existing stores, compare trade areas between potential store sites, and analyze demographic data within those defined areas. This information can be useful for a variety of departments within a retail company, from merchandizers and buyers determining product allocation and assortment, to real estate departments trying to determine the best next store location. Being able to combine geographic and demographic information for a market can make reporting for these departments both simple and efficient. Answer Provided Demographic data is provided for any given trade area.. Actionable Resultss Trade areas can be defined by radius (miles/kilometers) or drive time (minutes) Demographic data is easily provided for the definedd trade areaa Output The following is a representativee sample of the report output provided by the analytic application. The report includes population demographic cs for defined area. 3

4 Alteryx Data Utilized Population demographic data TomTom data (if drive time is used to determine trade area) Customer Data Utilized Store location files Key Alteryx Tools Utilized Trade Area Map Overlay Allocate Report How it works User can pick either store number or name as the report parameter. Example of Input Format used by Analyst 4

5 Store Cannibali zation Business Question How much of existing store sales will be transferred if a new store is opened within its trade area? Background Information As part of an expansion strategy, retail companies will consider opening new stores in a location that is currently within an existing store s trade area. Determining the effect of this new store on existing store saless in an important part of the decision of whether (or where) to put the new store. The cannibalizationn effect of customers to the new store must be taken into account in order to consider the entire financial impact. The existing trade area must be divided while estimating customer movement based on proximity to the existing or potential locations. For example, if the customer point is closer to the existingg location, itt will transfer a lesser percent of sales to the potential store. Conversely if the point is closer to the potential location, it will transfer a higher percent of sales. Answer Provided An estimate of the effect on sales within an existing store s trade area based on the location of a new store is calculated. Actionable Resultss A calculation of the loss of business for an existingg location will provide a factor for the decision of whether (or where) to place a new storee location. 5

6 Output The following is a representative sample of the report output provided by the analytic application. Alteryx Data Utilized TomTom data (if drive time is used to determine trade area) Customer Data Utilized Current and potential store locations and trade areas Current store sales Customer locations (if available) Key Alteryx Tools Utilized Spatial Match Distance Formula How it works This module demonstrates a basic cannibalization analysis between two stores. It requires store trade areas for both existing and potential locations, as well as point-of-sale data for the existing location. It divides a shared geographic area between existing and potential locations, and then separates the shared point of sale surface into proximity ranges, based on distance to the existing or potential store location. The sales figures correspond to the divided surface and are scaled based on proximity to the existing or potential location. The module does not account for any sales that take place outside of the trade area 6

7 Best Customer Trade Area Business Question How do I ensure thatt a store s trade area contains all of my best customers? Background Information Retail store trade areas are typically based on an arbitrary value such as miles radius or drivenot time in minutes. While this can be effectivee for general coverage, a trade area that does include a store s best customers may misss opportunities when used for promotional campaigns and other marketing activities. Using metrics such as Recency, Frequency, and Monetary spend (RFM) as related to customers who shop in a store, a trade area can be constructed that encompasses the set of a store s customers which are desired to be included. Answer Provided A trade area polygon that contains the set of best existing customers which can be used for a variety of marketing and saless analytics. Actionable Resultss The trade area polygon can be used in other workflows within Alteryx as the basis for multiple analytic processes. Output The following is a representativee sample of the report output provided by the analytic application. Alteryx Data Utilized Mapping data (to complete the report) 7

8 Customer Data Utilized Store location data Customer sales data (from a loyalty program, for example) that would include store visits and dates Key Alteryx Tools Utilized Poly-Build Distance Summarize Reporting tools ( Map, Layout and Render) How it works The user inputs the following items: % of total customers to be included in the trade area Total sales threshold for each customer The Store ID for which to construct the trade area Threshold of number of store visits 8

9 Customer Inclusive Trade Area Business Question How do I ensure thatt a store s trade area contains most of its existing customers? Background Information Just as with the Best Customer Trade Area use case above, it may not be effective to base a trade area around a store strictly on an arbitrary value such as mile radius or drive-time in minutes. Some retail chains could prefer to build trade areas used for promotional campaigns and other marketing activities that ensure that it covers a certain percentage of their existing customer base, while excluding the outlying customerss that may not have much effect on sales results. Answer Provided This analytic app provides both a trade areaa polygon that contains a specific percentage of existing customers which can be used for a variety of marketing and sales analytics, as well as a trade area based on the maximum distance of customer within the percentage threshold. Actionable Resultss The trade area polygon can be used in other workflows within Alteryx as the basis for multiple analytic processes. Output The following is a representativee sample of the report output provided by the analytic application. 9

10 Alteryx Data Utilized Mapping data (to complete the report) Customer Data Utilized Store location data Customer location data (from a loyalty program, for example) Key Alteryx Tools Utilized Convex Hull Trade Area Summarize Reporting Tools (Map, Layout, Render) How it works The user inputs the following items: The store for which to construct the trade area % of customer base to be used to construct the trade area 10

11 Product Assortment Analysis Business Question How well did our product assortment perform in the last sales cycle? Background Information Buyers and merchandise planners need to constantly assess how effective their assortment performs. Determining appropriate product category breadth and investment depth will facilitate more profitable buying decisions in the future. Identifying products that do not contribute as well to overall sales, margin, and inventory turn can reduce unproductive inventory and allow for better investment in in stronger selling items. Answer Provided A multi-perspective analysis of product assortment by category, based on historical POS and inventory data for a given time period. Actionable Resultss Identify products in last sales cycle with lowest contribution Determine opportunity for style/count reduction Identify common attributes of high/low performing products Use identified positives/negatives to assist in buying decisions for next season 11

12 Output The following is a representative sample of the report output that can be provided by the analytic application. Pareto Analysis with Contribution Points (and supporting detail) Quadrant Analysis Receipt - Sales Comparison 12

13 Alteryx Data Utilized None Customer Data Utilized POS and inventory data (non-aggregated) Key Alteryx Tools Utilized Summarize Append Fields Formula and Multi-row Formula Crosss Tab How it works User selects the dataa file to use (pre-aggregated using Alteryx) and maps the product category fields. User then selects the analysis type (dollars or units) and level (perr store or total), and sets the various break points for the analysis. 13

14 Targeted Direct Mail Lists Business Question To whichh prospects within a given trade area should promotional materials be mailed? Which prospects should provide the highest return for a mail promotion to a given area? Background Information Retail companies are constantly looking to expand their customer base. A commonly used tactic is to direct mail promotional materials to prospects within a specified trade area. However to mail these materials to all prospects withinn the area iss usually not financially efficient since many of the prospects are not the type of customerr that purchases from the company. Thus the tactic with the highest return on the cost of the mailing would be to mail only to those prospects most likely to act on the promotion. Answer Provided Defines and identifies the prospects most likely to purchase from the company. Actionable Resultss A list of prospects to be used for a direct mail campaign. Output The following is a representativee sample of the report output provided by the analytic application. A mailing list with addresses is also provided as an output. 14

15 Alteryx Data Utilized Consumer View dataa at the household level Customer Data Utilized No specific customer data necessary, but the retailer should have a good understanding of their target customer segment. Key Alteryx Tools Utilized Dynamic input Calgary Append Trade Area Suite of Reporting Tools How it works User inputs the address to be analyzed. User then checks offf the various demographic and behavioral variables that are of interest. Based on these selections, the report and address list are output for use. 15

16 Developing Market Optimization Test Locations Business Question What locations should be used as a starting point for potential locations analyzed in an expansion strategy? Background Information As retail chains develop expansion plans, a number of potential locations might be identified that fall within the same market areas. Eliminating locations with some basic criteria prior to developing detailed location analysis is beneficial to the process in that it avoids both cost and time. For example imagine testing the state of Illinois for feasible locations to open new retail stores. While testing several points in the state may bee necessary to ensure an adequate coveragee sample, it might be redundant to test locations in the same general retail area or retail center. An initial test process that automaticallyy iterates through the basic criteria and eliminates inferior locations would allow time for better detailedd analysis of the remaining locations. Answer Provided A set of potential store locations that have passed an initial basic set of criteria that have no overlap with the other locations. Actionable Resultss A site analyst will have a reasonable number of well-placed locations for further analysis. Output The following is a representativee sample of the report output provided by the analytic application. The supporting details of the locations would also be provided. 16

17 Alteryx Data Utilized Alteryx date is not required for this process. Customer Data Utilized A list of potential store locations which have been scored for potential Key Alteryx Tools Utilized Buffer Formula Sample Append Fields How it works 1. Locations are input into the macro and an alpha location is identified. This would be the highest scoring locations 2. All locations are buffered by a user defined radius. 3. The process iteratively compares the alpha location to all inferior locations and determines whether the buffer areas overlap. If it does, the inferior location is eliminated. 4. This process occurs for all locations as the eliminations occur. 17

18 Store Financial Investment Summary Business Question What format can be used to summarize the financial investment and performance at a store level? Background Information Businesses need a methodology to join a variety of financial, investment, and store performance data to have a fulll perspectivee of the overall worth of a store. Many times this entails manually aggregating data from multiple spreadsheets and other data sources. This can result in a time-consuming and sometimes inaccurate reporting process. Answer Provided A summarized reporting of some key financial and investment KPIss along with store area demographic data Actionable Resultss This can be the starting point for an analysis of store profitability and return on investment. 18

19 Output The following is a representative sample of the report output provided by the analytic application. Alteryx Data Utilized None in this specific example, however many of the data items would be created from demographic and spatial data within Alteryx. Customer Data Utilized A consolidation of various financial data related to store investments and operations Key Alteryx Tools Utilized Multi-field formula Formula Arrange Various reporting tools 19

20 How it works The user picks the store location and the discount rate to use to generate the report. 20

21 Customer Profile by Store Business Question What is the makeup of the customers of a specific storee and wheree are they located in relation to the store? Background Information It is important to understand the demographic makeup of the customers that frequent a specific store and to identify the geographic locale of where they live in relation to the store location. Having such information allows for more accurate marketing to both meet the needs of existing customers as well as attract new customers. Answer Provided A report mapping the location of customerss categorizedd by Mosaic consumer segments, mapping total customer count and spend, as well as a summary report showing the top consumer segments serviced by the store. Actionable Resultss Gaps in a store trade area can be identified Gaps in consumer segments within a store trade area can be identified Output The following is a representativee sample of the report output provided by the analytic application. 21

22 22

23 Alteryx Data Utilized Experian ConsumerView data and CAPE dataa Customer Data Utilized Store location data Summarized customer POS data Key Alteryx Tools Utilized Calgary Join Calgary Cross Count Append Allocate Append Multi-field Formula Spatial Match How it works The user picks the store location(s) and the methodology to determine the trade area. NOTE: If multiple stores are selected, the reports also include an analysis of overlapping customers. 23

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