Mar 8 2023 ...
Nextail, Powered by Snowflake, boosts merchandising speed-to-decision
The Nextail-Snowflake partnership boosts data processing power to deliver the merchandising decisions fashion & collection-based retailers need to reach business goals
For almost a decade, the Nextail AI-driven retail merchandising platform has been delivering value and business impact to global brands and retailers through granular insights to drive continual bottom-up merchandising decisions and always understand the next best action to take. The new partnership with the world’s leading data cloud platform, Snowflake, takes these capabilities to the next level.
Whether it’s how much inventory to buy, how to reduce assortment complexity, or how to readjust allocations at a moment’s notice to maximize full-price sell-through, Nextail blends real time and historical data to identify patterns and expose new opportunities that help retailers grow their businesses.
As Nextail customers grow their businesses and their operations reach new levels of complexity, especially as they move into new channels, they need to tap into and process exponentially larger, newer data sets. As such, Nextail has partnered with Snowflake to increase processing power to continue delivering the unique insights and operational excellence that customers have come to depend on for mission-critical merchandising decisions.
Nextail delivers further value to retail customers through data
The Nextail – Snowflake partnership greatly benefits retailers by providing them with:
- Scalability: Nextail retail customers can grow and evolve their businesses with confidence, thanks to decoupled computing and storage layers allowing for unlimited scalability when executing business processes.
- Speed: Retailers now have access to deeper insights, faster. Nextail can process and analyze millions of products with countless variables in a matter of minutes, and can complete the process of transforming and analyzing three years of customer data 8x faster than before through Snowflake’s Time Travel function. That translates into benefits such as replenishment scenario processing down from hours to just minutes, for example.
- Value-delivery focus: By integrating the Nextail smart retail platform with the Snowflake Data Cloud, Nextail leverages data storage, processing power and analytic solutions much more quickly than with traditional solutions. Nextail is also able to ingest data at scale and from multiple data sources, simplifying the data science environment so that Nextail’s 70+ team of product, tech, and data science professionals can focus on continuously evolving Nextail solutions to deliver more value through data to customers.
Nextail customers can access richer internal and external data
The partnership also means that Nextail data now forms part of the Snowflake Data Cloud platform, enabling retailers to orchestrate more of their processes through Nextail, opening up new possibilities such as:
- Quick, autonomous data access: There’s no need for integration for retailers on the Snowflake Data Cloud, as Nextail can automatically share data in real-time between Snowflake instances. Retailers can then access the data they need quickly and autonomously. Snowflake data sharing replaces costly traditional data sharing methods, eliminating the need to copy, transform, or move data from silos.
- External, contextual data: Not only can retailers access live, granular data from across their own operations, they can also tap into contextual data (e.g. weather patterns that may affect retail operations) that can unlock deeper insights than those provided by traditional analytics. In the future, retailers will also have access to anonymized, secure, governed data from across the broader ecosystem.
Together, Nextail and Snowflake make it possible for retailers of any size, shape, or scope to gain fast and easy access to the data insights. No matter how their data volume, type, and processing needs grow or change over time, they will always be able to take the next best merchandising action for meeting their business goals.