The Record Issue 11: Winter 2018

19 Why fashion retailers are benefiting from data mastery ASW continues Technology Partnership programme for digital transformation Hong Kong-based international health and beauty retailer ASW is building a network of technology partners to accelerate digital transformation. According to Cally Chan, general manager of Microsoft Hong Kong and Solman Rahman, senior vice president and head of GBU at EPAM Systems, the programme’s renewal is good news for digital collaboration and innovation. A new whitepaper from UK based analytics and data management firm Coeo outlines why fashion retailers are benefiting from data mastery. It outlines seven key themes that are essential to achieving success: 1 Know your customer Retailers without a good handle on data are most at risk 2 A cultural shift Data is now a board level issue 3 What is a retailer? Disintermediation is having a significant effect on fashion retail 4 The bottom line never goes out of style Any investment in artificial intelligence must stand up to scrutiny 5 The finishing touches Retailers are incorporating external data for a wider picture 6 Omnichannel takes time The more channels you have, the longer it takes 7 A tailored approach ERP systems are rarely ready to wear itim launches pricing and promotions software built on Microsoft SQL Server UK-based retail software provider itim will launch its new cloud-based pricing and promotions software, Profimetrics, in 2019. The software, which is built on Microsoft SQL Server and .NET, aims to help retailers using predictive capabilities to create the best promotional deals based on data regarding social media trends, competitor price adjustments and even the weather. “Predictive analytics is less prone to human error and much better at identifying which products will sell really well and drive traffic to stores,” said Sandra Ribeiro, international chief executive officer at itim. Photo: Joshua Rawson-Harris