Analytics
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This article was originally written by Ritu Jain, Director, Industry Marketing, Retail, Alteryx
In my last blog, CROSSMARK: Changing Retailing Through Analytics, I had mentioned to you that in the next few weeks, I’ll bring you a few customer stories that have stayed with me based on their innovative use of analytics.
Family Dollar is one such customer. I can’t imagine you not knowing about Family Dollar considering the company has been in so much news in last few months with both Dollar Tree and Dollar General trying to woo the company for a merger. However, for those who haven’t heard of the company, Family Dollar is a variety store chain, the second-largest price point retailer in the U.S. with over 8,000 stores.
The company is using spatial analytics from Alteryx primarily for site selection and retail network planning. As you can imagine, optimizing site locations of 8000+ stores is not easy. Using Alteryx, Derek Morrell, Manager of Predictive Analytics for Family Dollar, and his team have been able to create polygons/ trade areas for all 8000+ stores based on where their competition is located, as well as a better understanding of who their customers are in minutes verses hours or days.
Better yet, Derek and his team are not limiting customer and competitive insights too just retail network planning; they are using the information gained to support store operations, marketing and merchandising decisions. In fact, one good example Derek shares when talking about extending the use of spatial analytics is how the finance department within the company is using derived insights to optimize banking partnerships based on store locations and the cost of partnerships.
Hear directly from Derek on how Family Dollar is using Alteryx and why he values Alteryx so much. Maybe it will spark some thoughts on how you too can extend the use of analytics within your organization.
And while I look for another customer case study to bring to you, share your stories on how you are driving innovation with analytics within your organization in the comments section below.
