Easy Ways to Use POS Data to Sell More and Avoid Inventory Problems with Alloy.ai's Manfred Reiche

What comes to mind when you hear the words ‘sales data’? 

Alloy.ai’s resident expert on all things related to retail data, Manfred Reiche, says there’s a whole realm of information you’re likely missing out on when it comes to the sales data bucket. In this episode, we delve into the intricacies of point-of-sale data and its transformative impact on the consumer goods industry. 

Listen in as we explore the critical role of data analysis in uncovering regional problems, managing inventory, and enhancing decision-making across various company sizes. From the importance of granularity in data to the necessity of breaking down silos within organizations, this discussion promises to shed light on how businesses can leverage vast data sets to drive success. 

Three Key Takeaways: 

1. Accumulating data isn't enough, the key is to convert it into insights that drive action and that’s where granularity and AI play pivotal roles
2. Encourage cooperation between different business units - breaking down silos can lead to more synchronized decision-making and better use of POS data
3. Transition from traditional methods to using real-time POS data for forecasting to better predict market behaviors and enhance supply chain decisions