Informatica Launches Intelligent Data Management Cloud for Retail
– New cloud capabilities designed to help retail companies stay competitive and continuously innovate customer experience in a digital-first world
– Hershey, Unilever, Discount Tires and other retail leaders use the Intelligent Data Management Cloud (IDMC) to transform customer experience
– IDMC for Retail is the ONLY cloud-neutral data management platform for retail
Informatica, the enterprise cloud data management leader, announced the Intelligent Data Management Cloud (IDMC) for Retail with new cloud-first, cloud-native capabilities built to help the retail industry drive innovation and business value by overcoming specific challenges related to data fragmentation, data complexity and lack of connected experiences in a multi-cloud, hybrid environment.
The retail industry has had to pivot to a digital-first strategy powered by the Cloud in light of the global pandemic and this transformation is predicted to continue post- pandemic. One of the biggest barriers to retail transformation is managing data across multiple clouds and hybrid cloud. IDMC for Retail is the first and only cloud-neutral Data Management Cloud for the retail industry enabling digital-first experiences to their customers while driving omni-channel revenue growth by managing data across any system, any cloud, multicloud or hybrid.
The Hershey Company, a snacking powerhouse with over 90 brands and $8B in annual revenues, keeps its 128-year-old company thriving with its long-term view on growth and differentiated capabilities. The company recognized the importance of modernizing the way trusted data is delivered to the business, seeking a solution that is easy to adopt and would deliver immediate value. “Informatica’s Intelligent Data Management Cloud platform will enable Hershey to deliver trusted, governed data to our users with the utmost confidence,” said Ryan Gelburd, Enterprise Data and Technology, the Hershey Company.
“The Cloud has empowered us to engage with our customers in meaningful ways never before possible and capitalize on real-time moments to up-sell and cross-sell while maintaining high customer satisfaction scores,” said Gary Desai, CIO, Discount Tires. “Informatica’s MDM and Customer 360 cloud solutions which are part of the Intelligent Data Management Cloud will be a game-changer for retail companies especially with its ability to efficiently manage the supply chain and inventory in the current climate.”
IDMC for Retail is the company’s first step towards investing in industry-specific cloud data management platforms that enable retail customers to:
Deliver Hyper-Personalized Customer Experiences: As the shift to online shopping continues, enabling personalized shopping experiences will be even more critical for retailers to rise above the competition.
IDMC for Retail enables highly personalized, digital-first customer experiences across all channels, at-scale so retailers can respond to dynamic, real-time customer needs by unifying customer data across multiple domains, systems and multiple clouds.
IDMC for Retail:
- Improves customer profiles with clean, consistent and complete information
- Increases self-service with search and exploration of customer relationships through both network and hierarchy views
- Helps efficiently acquire, manage and publish relevant and trusted product content to drive seamless customer experiences
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Increase Supply Chain and Inventory Management Efficiencies: According to a McKinsey consumer study published in December, when faced with out of stocks, 71% of consumers will switch brands and retailers. IDMC for Retail improves inventory visibility at the store and distribution center level and increases the accuracy of demand forecasting. In a world where climate change and geopolitical tensions will continue to create supply chain uncertainty, closer collaboration with suppliers is a powerful way to address supply disruption and price volatility.
IDMC for Retail:
- Boosts productivity and cuts costs by reducing business overhead and manual work for managing supplier information
- Shrinks supplier and product onboarding and qualification time from weeks to days
- Improves supplier collaboration, assess compliance and manages supplier risk to build a resilient and sustainable supply chain
Maintain Customer Trust and Loyalty with Industry-Certified Data Governance and Compliance Standards: Data privacy regulations directly impact the way multinational companies conduct their business. IDMC for Retail helps prevent exposure and reduces risk by providing effective data governance and privacy capabilities. By providing visibility into data usage and access, it reduces risk exposure to potential breaches and non-compliance with data privacy laws to help build trust and loyalty from customers.
IDMC for Retail:
- Rapidly finds and compiles personal data, which is held in countless disconnected systems throughout your enterprise
- Enables quick responses to subject requests and data breaches within the timelines required by GDPR, CCPA and other regulations
- Fosters IT and business collaboration, driving productivity and rapidly accelerated reporting processes
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Informatica has a rich ecosystem of cloud partners, AWS, Google Cloud, Microsoft, Snowflake and Databricks to provide seamless integrations to help retail customers succeed in their cloud-first digital transformation. Global System Integrator partners like Accenture, CapGemini, Deloitte, Cognizant and Wipro have been integral to Informatica’s cloud expansion in the retail industry and are actively engaged in helping several joint retail customers adopt IDMC.
“The Informatica Intelligent Data Management Cloud for Retail is the only, end-to-end, cloud-neutral data management platform built to enable retail organizations to continuously innovate their customer experience, and create omni-channel shopping and supply chain efficiencies with seamless access to trusted data when and where they need it,” said Jitesh Ghai, Chief Product Officer, Informatica. “The retail industry is on an accelerated path to digital transformation and Informatica is helping retail organizations stay competitive and drive business value by unlocking the value of unified data.”
IDMC for Retail Capabilities Include:
• Enabling a unified view of data and insight across critical retail business domains with MDM and 360 applications (Customer, Product, Supplier, Location
• Application integration and hyperautomation capabilities integrate application silos like point-of-sale, payment processing, inventory, and more to automate retail business processes (retail systems example: Oracle Commerce, GS1, Salesforce Commerce Cloud, Magento, Oracle Netsuite)
• Out-of-the-box Retail accelerators that significantly reduce time to value and include:
o Connectivity to GDSN Data Pools, Commerce Platforms such as Adobe Experience Manager, and Procurement Networks like Coupa
o Out-of-the-box data models for Retail Customer Data Management (customer 360)
o Ability to extend data models to support product, supplier, and location data, customer loyalty and rewards, product categories and digital assets
o Rich user experiences to search, view, and manage customer information along with their transactions and interactions data
o User Interfaces tailored for managing product catalogs and digital assets, a self-service Supplier Portal
o Prebuilt workflows for supplier and product onboarding, catalog management and syndication
· Data Privacy capabilities specific to the Retail industry include:
o Sensitive data discovery, PII data classification, Subject requests management, and consent management
o Facilitate compliance with GDPR and CCPA
· New Out-of-the-box ML transformation operationalizes machine learning (ML) models addressing data drifts
· Informatica CLAIRE AI engine helps automate product classification, product syndication, supplier, product, and customer onboarding
· A Self-service data marketplace for data sharing with retail ecosystems and partners
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