Originally Published on: QuantzigHow we Helped a US retailer in Standardizing Data, Data Delivery Mechanism, and Tracking Usage

Client Insight: Quantzig partnered with a prominent US-based retail leader, acclaimed for its expansive product offerings and customer-centric ethos. With an 85,000-strong workforce, the client aspired to elevate data into a strategic asset, gaining a competitive edge in the dynamic retail landscape.

Addressing Challenges: The client grappled with the formidable task of consolidating diverse data sources while navigating the complexities of data governance. Determining data's comparative cost and ROI, eliminating redundancy, and standardizing KPIs were pivotal challenges hindering effective data leverage.

Innovative Solutions for Data Monetization

Tailored Data Monetization Strategy: Initiating with a comprehensive data inventory and structure assessment, we unveiled redundancies, consumption gaps, and duplicated efforts. In response, we crafted a bespoke solution using the Microsoft Power Platform and Synapse to address these challenges.

Key Solution Highlights:

1. Data Inventory and Structure Optimization: Streamlined data inventory eradicated redundancies, fostering a more cohesive and efficient structure.

2. KPI Standardization and Monetization: Identification and standardization of key monetizable KPIs enabled real-time tracking and informed decision-making.

3. Automating Data Processes: Automation of various data processes dismantled barriers, allowing more effective capitalization on data assets.

Impact Unleashed:

1. Reduction in Redundancy: Implementation resulted in a remarkable 60% decrease in data redundancy.

2. Cost Savings: Total Cost of Ownership (TCO) witnessed a substantial 28% decrease, showcasing significant cost efficiency.

3. Business Value Realization: The solution quantified and delivered tangible business value, paving the way for additional budgets for strategic data investments.

Outcomes of Quantzig’s Data Monetization Strategy:

1. Significant Reduction in Redundancy: A 60% reduction streamlined data management, enhancing overall efficiency.

2. Decrease in Total Cost of Ownership (TCO): Optimized processes and eliminated duplication, leading to a 28% reduction in TCO.

3. Tangible Business Value Realization: The strategic approach not only quantified business value but also facilitated the acquisition of additional budgets for strategic data investments.

4. Enhanced Operational Efficiency and Decision-Making: The comprehensive strategy and integration of Microsoft Power Platform with Synapse revolutionized operational efficiency, empowering data-driven decisions and enhancing productivity.

Navigating Data Monetization in Retail: A Holistic View

The success of Quantzig’s tailored data monetization solutions underscores the transformative potential for the retail industry. Key insights include:

1. Strategic Asset Transformation: Leverage data as a valuable asset to boost productivity, enhance customer experiences, and maintain a competitive edge.

2. Overcoming Data Governance Complexities: Effective data monetization strategies manage the complexities of data governance, turning challenges into opportunities for efficiency and growth.

3. Unlocking Full Data Potential: Standardizing KPIs and implementing data monetization strategies allows retailers to unlock the true value of their data for strategic decision-making.

4. Driving Innovation and Growth: Data monetization is not just about enhancing operations but fostering innovation and opening new avenues for growth.

5. Competitive Advantage Creation: A well-implemented data monetization strategy provides a significant edge, enabling retailers to stay ahead and meet evolving consumer needs effectively.

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