Jonathan Golovin, Co-founder and CEOIn the fast-paced business environment, processing the sheer magnitude of retail data from different parts of the world to gain insights can become extremely challenging for retailers and suppliers. However, technology disruptions in big data and analytics are making it easier to understand consumers and the supply chain in an efficient way. Transforming retailer data into opportunity in the store, on the shelf and with shoppers worldwide, is Mountain View, CA-based Retail Solutions Inc. (RSi). The RSi platform processes billions of records from over 150 major retailers in more than 150,000 locations around the world, turning data into actionable insights for immediate, automated decision-making. “Our goal is to provide actionable insights across business functions, enable collaboration between retailers and suppliers and the end-to-end processes by leveraging big data platform,” states Jonathan Golovin, Co-founder and CEO, RSi.
RSi’s data platform serves up analytics on massive amounts of retail data with strict Service Level Agreement (SLA) through Massively Parallel Processing (MPP) architecture and columnar storage. RSi’s proprietary algorithms, business processes and suite of intelligent, cloud-based applications help consumer goods manufacturers and retailers listen and respond to consumer demand, ensuring the right product is in the right store, at right time. RSi’s proprietary algorithms have been developed in such a way to help customers understand what is likely to happen with their business tomorrow, based on today’s data as well as historical data patterns. “From solving out-of-stocks to driving inventory down, from optimizing sales strategies to determining marketing ROI, RSi improves operational excellence and drives sales,” says Golovin.
RSi provides customers with cleansed and harmonized data to help them make informed business decisions through its ad hoc analytics tools, cutting-edge alerting solutions and additional applications. “We help our customers achieve operational excellence across business functions through a corporate discipline, bringing together all functional areas to build and execute plans as effectively as possible—in the store and in the multi-channel world,” adds Golovin.
Our goal is to provide actionable insights across business functions, enable collaboration between retailers and suppliers by leveraging big data platform
The company provides analysis of point-of-sale data in near-real time to customers, along with over 60 use case templates and retailer-specific collaborative business processes. The company’s ability to store and analyze POS and inventory data at the store-item-day and DC-item-day level drives value for its customers. “In addition to helping seasoned analysts mine the retail data for insights, we also provide operational processes that are exception-based and prescriptive,” says Golovin.
The company forecasts true demand at the store-item-day level to: correct store allocations, reduce out-of-stocks and excess inventory, and optimize promotion forecasting. By utilizing one of RSi’s solutions, promoted sales for one customer increased by 170 percent in a month. Another of the company’s solutions, RSi’s advanced On-Shelf-Availability, which identifies statistically significant gaps in sales at the store-item-day level to identify and correct shelves that are out-of-stock, has continued to reap significant value for customers since its inception. “Our alerting solution has returned over $500 million in value to our customers since it was launched in 2010,” affirms Golovin.
Having set the standard for years in the space of business analytics and insights based on retailer data, RSi looks forward to entering untapped markets in the future. “We receive data from 64 countries around the world and are always considering new opportunities for expansion often led by our customers’ need to compete in a global ecomony,” concludes Golovin.