Customer Experience Management vendor, Oracle, has released a new version of its Oracle Retail Category Management product, which includes updates to its data integration, planning and insight to drive store performance features.
A Good Year for Oracle
In 2012, Oracle was making headlines. In addition to buying Eloqua, a Cloud Based Marketing Automation Company towards the end of December, it also acquired Instantis, project portfolio management (PPM) product which the company planned to use with its Primavera PPM Toolset and Fusion application.
As for its own products, Oracle spent the latter half of the year improving user experience and product functionality. At the 2012 Openworld Conference, Oracle unveiled Private Cloud, an infrastructure-as-a-service product that acts as an extension of the current cloud product. Other product updates included the release of Oracle Knowledge 8.5 and a reconfiguration of its big data product catalog which included updates to the Oracle Big Data Appliance X3-2 and Big Data Connectors.
What about Retail Category Management?
The Oracle Retail Category Management product is a tool that helps grocery, department and similar stores with their sales goals by using consumer data to create plans centered around tailor assortments, pricing and promotions so that these businesses can successfully market to their consumer base. With this update, Oracle plans to improve the tool’s overall efficiency. While only limited details about the update have been released, the company says that more information will be available at the National Retail Federation Convention later this month. General information from the initial announcement includes:
- Accelerated Planning: In using pre-configured automated processes, Oracle aims to use multiple sources of data, such as market and retail statistics, to determine the best consumer marketing approach.
- Time and Cost Management: In addition to making this product as efficient as possible in terms of the data it produces, Oracle also wants to make sure that the time and cost spent on marketing is reduced by having pre-made templates and data models available to clients and having a more competent data integration process.
- More Profit: Using custom assortments which are determined using “embedded forecasting, customer segmentation and consumer decision trees” Oracle wants to help clients improve their revenue.
- Predictive Application: As part of the product update, Oracle has introduced a new tool, the Oracle Retail Predictive Application Server. This product suite includes planning, optimization, forecasting and supply chain solutions.