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.
In light of the global pandemic, the retail industry has had to transition to a digital-first strategy powered by the Cloud, and this shift is expected to continue post-pandemic. Managing data across different clouds and hybrid clouds is one of the most difficult aspects of retail transformation. By managing data across any system, any cloud, multicloud, or hybrid, IDMC for Retail is the first and only cloud-neutral Data Management Cloud for the retail industry, allowing digital-first experiences for customers while driving omni-channel revenue growth.
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 recognised the importance of modernising 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 capitalise 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-Personalised Customer Experiences: As the move to online buying continues, allowing for personalised shopping experiences will become even more important for companies to stand out.
IDMC for Retail unifies customer data across many domains, systems, and clouds to offer highly personalised, digital-first customer experiences across all channels, allowing retailers to adapt to dynamic, real-time customer needs.
IDMC for Retail:
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Improves customer profiles with clean, consistent and complete information
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Increases self-service with search and exploration of customer relationships through both network and hierarchy views
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Helps efficiently acquire, manage and publish relevant and trusted product content to drive seamless customer experiences
Increase Supply Chain and Inventory Management Efficiencies: According to a McKinsey consumer study published in December, 71% of consumers will switch brands and retailers when faced with out of stocks. IDMC for Retail improves inventory visibility at the store and distribution centre level and increases demand forecasting accuracy. 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:
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Boosts productivity and cuts costs by reducing business overhead and manual work for managing supplier information
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Shrinks supplier and product onboarding and qualification time from weeks to days
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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: Regulations governing data privacy directly impact how multinational corporations conduct business. By delivering robust data governance and privacy capabilities, IDMC for Retail helps prevent exposure and reduces risk. It helps develop consumer trust and loyalty by offering data usage and access visibility. This decreases the risk of potential breaches and non-compliance with data privacy rules.
IDMC for Retail:
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Rapidly finds and compiles personal data, which is held in countless disconnected systems throughout your enterprise
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Enables quick responses to subject requests and data breaches within the timelines required by GDPR, CCPA and other regulations
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Fosters IT and business collaboration, driving productivity and rapidly accelerated reporting processes
Informatica offers a large ecosystem of cloud partners, including AWS, Google Cloud, Microsoft, Snowflake, and Databricks, that provide seamless interfaces to help retailers succeed in their cloud-first digital transformations. Accenture, CapGemini, Deloitte, Cognizant, and Wipro, among other global system integrator partners, have been instrumental in Informatica's cloud expansion in the retail business, and are actively involved in assisting multiple 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 organisations 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 organisations stay competitive and drive business value by unlocking the value of unified data."
