Why is demand forecasting a huge opportunity for retailers?

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. In the final episode of season two, we’re looking back at the topics we’ve covered over the last couple of months. Host Peter Denby walks through sound bites from each episode – from demand forecasting and decision intelligence to location planning and 2023’s retail trends. Resource one: The state of retail in 2023, part one – https://hyperfinity.ai/resources/the-state-of-retail-in-2023-part-one Resource two: The state of retail in 2023, part two – https://hyperfinity.ai/resources/the-state-of-retail-in-2023-part-two Resource three: Why is demand forecasting a huge opportunity for retailers? – https://hyperfinity.ai/resources/why-is-demand-forecasting-a-huge-opportunity-for-retailers Resource four: What is decision intelligence for retail? – https://hyperfinity.ai/resources/what-is-decision-intelligence-for-retail Resource five: Why should I buy from you? – https://hyperfinity.ai/resources/why-should-i-buy-from-you Resource six: From data to devotion: How to create loyal customers using analytics – https://hyperfinity.ai/resources/how-to-create-loyal-customers-using-analytics Resource seven: What’s the future of decision intelligence? – https://hyperfinity.ai/resources/what-is-the-future-of-decision-intelligence Resource eight: Why should data inform a retailer’s location? – https://hyperfinity.ai/resources/why-should-data-inform-a-retailers-location Email [email protected] with your comments and hit subscribe to keep up to date.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. In this episode, we’re covering location planning. Host Peter Denby is joined by Asheeka Hyde, Dunelm’s Head of Trading Analytics, to discuss how retailers use data and analytics to power crucial location decisions. Resources Resource one: A retailer’s location often determines its success– https://www.retailgazette.co.uk/blog/2019/09/just-how-important-is-a-retailers-location-location-location/#:~:text=It's%20commonly%20believed%20good%20location,it%20faces%20from%20other%20businesses. Email [email protected] with your comments and hit subscribe to keep up to date.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. In this episode, we’re going back to our roots. Host Peter Denby is joined by Dr Lorien Pratt, the co-inventor of decision intelligence (DI), to discuss how it came about, why businesses need it, how organisations can get started with DI, and it’s potential for the future. Resource one: ‘Link’ is Dr Lorien Pratt’s first book on decision intelligence – www.linkthebook.com Resource two: We produce 2.5 quintillion bites of data every single day – https://www.forbes.com/sites/bernardmarr/2018/05/21/how-much-data-do-we-create-every-day-the-mind-blowing-stats-everyone-should-read/?sh=189f6f8c60ba Resource three: A survey by McKinsey found only 20% of respondents are confident their business excels at decision making – https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/decision-making-in-the-age-of-urgency Resource four: ‘The DI Handbook’ is Dr Lorien Pratt’s second book about decision intelligence, which will be published this year – www.dihandbook.com Resource five: ‘Getting Started with Decision Intelligence’ is Dr Lorien Pratt’s eight-week course on decision intelligence – www.gettingstartedwithdi.com Email [email protected] with your comments and hit subscribe to keep up to date.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. The key to business growth and success is retaining customers. Join host Peter Denby and Costa Coffee’s Ed Child, as they discuss how data plays a vital role in creating loyal customers. Resource one: The importance of customer loyalty – https://www.forbes.com/sites/forbesagencycouncil/2020/01/29/the-value-of-investing-in-loyal-customers/?sh=31b68a0921f6 Resource two: Existing customers spend 31% more than new customers and are 50% more likely to try new products – https://www.business2community.com/customer-experience/why-your-existing-customers-are-your-best-customers-02199165 Resource three: It costs anywhere from 5 to 25 times more to acquire rather than retain customers – https://blog.hubspot.com/service/customer-acquisition-study?o=73761&t=1578940954&z=196547&sh=1&_ga=2.55216299.1241445799.1578941068-1887897038.1530105100 Resource four: The benefits of customer loyalty programmes – https://www.indeed.com/career-advice/career-development/benefits-of-loyalty-programs Email [email protected] with your comments and hit subscribe to keep up to date.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. Tune in as we explore how retail is changing; common archetypes; and the importance of retailers understanding and delivering on their value proposition. This time, our host Peter Denby is joined by Ian Shepherd, a former executive who led Pan-European retail, consumer and hospitality businesses such as Sky, Game Group and Odeon and UCI cinemas. Ian’s now a retail-focussed NED and Chair and advisor to retailers, investors, and innovative start-ups. Resource one: Moving Tribes newsletter – https://movingtribes.substack.com/ Resource two: Reinventing Retail, Ian Shepherd – https://www.amazon.co.uk/Reinventing-Retail-rules-drive-profits/dp/1292270772 Resource three: The Average is Always Wrong, Ian Shepherd – https://www.amazon.co.uk/Average-Always-Wrong-real-world-business/dp/0857198122/ Enjoy the episode and hit subscribe to keep up to date.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. This episode demystifies decision intelligence; a fast-growing tech category that’s rapidly being adopted by leading retailers. Our host Peter Denby is joined by fellow co-founders Adam Barrowcliff (Chief Data Officer) and Damon Bryan (Chief Technology Officer). Resource one: Dr Lorien Pratt and Mark Zangari, The New Science of Decision Engineering. Telecom Asia. September 2008. Resource two: Cassie Kozyrkov’s definition of decision intelligence – https://decision.substack.com/about Resource three: Alibaba’s top ten technology trends for 2023 – https://www.alibabagroup.com/en-US/document-1549931199227494400 Resource four: Gartner predicts more than a third of businesses will employ decision intelligence in the next two years – https://www.gartner.co.uk/en/information-technology/insights/data-and-analytics-essential-guides Resource five: Forbes’ definition of decision intelligence – https://www.forbes.com/sites/forbestechcouncil/2022/05/25/is-decision-intelligence-the-new-ai/?sh=51b2f7464e42 Happy listening! If you enjoy the episode, hit subscribe to stay updated.

This is To Affinity & Beyond; HyperFinity’s podcast about decision intelligence, data science and AI for retail. This time, we’re exploring demand forecasting – a process that’s widely considered imperative to get right in order to run a successful retail business. Our host Peter Denby is joined by fellow co-founder and Chief Customer Officer Thomas Hill. Resource one: Wikipedia’s definition of demand forecasting – https://en.wikipedia.org/wiki/Demand_forecasting Resource two: a second definition of demand forecasting, by global fulfilment software ShipBob – https://www.shipbob.com/uk/blog/demand-forecasting/#what-is Resource three: Amazon is using machine learning to forecast demand – https://www.forbes.com/sites/amazonwebservices/2021/12/03/predicting-the-future-of-demand-how-amazon-is-reinventing-forecasting-with-machine-learning/?sh=7c9c56b01b6b Resource four: 2015 research by IHL Group found overstocks and out-of-stocks cost retailers across the globe $1.1 trillion in lost revenue – https://retailwire.com/discussion/retailers-suffer-the-high-cost-of-overstocks-and-out-of-stocks/ Enjoy the episode and hit subscribe to stay updated.

This is To Affinity & Beyond; HyperFinity's podcast on decision intelligence for retailers. This time our host is joined by HyperFinity's Chief Customer Officer, Thomas Hill, for the second of a two-part special. We're focusing on three key retail trends in 2023 and how data and AI can be used to address them.  This time we'll cover: 1. The rise of the circular economy 2. What's next for department stores? 3. Is it dark days for Black Friday? Additional resources Resource one: Wikipedia's definition of a circular economy: https://en.wikipedia.org/wiki/Circular_economy#:~:text=A%20circular%20economy%20(also%20referred,products%20as%20long%20as%20possible. Resource two: Fast fashion is getting faster, with exponential increases in clothing being manufactured and purchased: https://www.fastcompany.co.za/inspiration/fashion-is-wasteful-heres-why-retail-needs-rethink-7f3a2bdc-9f00-489d-989c-61eeccca715c Resource three: Retailers like Modern Milkman are leading the way to a circular economy. Their business focuses on eliminating single use plastics, by using modern tech to create a waste-free, circular supply chain: https://themodernmilkman.co.uk/our-mission Resource four: Consumers can now rent clothes to wear, with retailers like John Lewis jumping on the trend: https://www.moneysavingexpert.com/shopping/designer-clothes-rental/ Resource five: Hirestreet is an example of a fashion rental platform: https://www.hirestreetuk.com/ Resource six: the outlook for department stores is gloomy. Debenhams finally closed its remaining 160 stores in spring 2021 - although the online brand has survived under new owner Boohoo (https://www.bloomberg.com/news/articles/2022-09-16/save-britain-s-heritage-report-highlights-threat-to-uk-department-stores). Meanwhile, John Lewis closed 16 stores during the pandemic (https://www.retailgazette.co.uk/blog/2022/03/john-lewis-boss-no-more-store-closures-despite-soaring-online-sales/#:~:text=John%20Lewis%20also%20traded%20from,would%20close%20no%20more%20stores) and retired its 'never knowingly undersold' price pledge in 2022 (https://www.theguardian.com/business/2022/aug/11/john-lewis-to-retire-97-year-old-pledge-never-knowingly-undersold). Fenwick is closing its 130-year-old New Bond Street department store in 2024 (https://www.bbc.co.uk/news/uk-england-london-63880285). Resource seven: Black Friday footfall in the UK was 22% lower than pre-pandemic levels (https://www.theguardian.com/business/live/2022/nov/25/black-friday-retailers-bleak-friday-cost-of-living-strike-amazon-economy-hospitality-business-live).

Hello and welcome everyone. I’m Pete Denby, Co-founder of HyperFinity. This is To Affinity & Beyond, our podcast about decision intelligence, data science and AI. With a particular focus on all things retail and consumer products. We all know it’s a very turbulent time for retailers, filled with challenges, risks, and opportunities. Over 2 episodes we’ll explore 6 of the biggest trends we’re seeing in retail. We’ll talk about what they mean for retailers, and, as we’re a data science and AI company, we’ll provide some insight on how data can be used to address each trend. I’m joined today by my HyperFinity Co-founder and our Chief Customer Officer, Thomas Hill, as we cover 3 big trends. · The cost-of-living crisis · The collapse and consolidation of retailers · And retail media - a new path to retail profit Enjoy the discussion and hit subscribe to make sure you never miss an episode!

Hello and welcome to the final episode in Season One of our podcast, To Affinity and Beyond. I’m Pete Denby, host of the podcast and Co-founder at Hyper. In this episode I’m going to reflect on 3 things. 1. What we’ve learnt from starting and producing a regular podcast 2. Our most listened to podcast and it’s main highlights 3. 3 key insights from the rest of Season One As promised in the episode, below is a summary of my favourite podcasts. We hope you enjoy these before tuning back in to Season Two of To Affinity and Beyond! 🎤 How I Built This with Guy Raz 💡 Inspiring stories of ambition, adversity and ultimately huge reward, led by a host who facilities rather than dominates. 🎤State of Demand Gen with Chris Walker. 💡Chris pretty much creates the modern day B2B marketing playbook. Very important and timely podcast. 🎤On Strategy Showcase with Fergus O'Carroll. 💡Deep dive into the strategy behind hugely successful marketing and advertising campaigns. Fergus gives plenty of room for his guests to describe their work in detail. 🎤The Bigger Narrative with Andy Raskin. 💡Discussions with CEOs about the power of strategic narrative. With invaluable contributions from the Andy’s mum. 🎤Product Marketing Experts with Sharebird. 💡Various topics relating to product marketing. E.g. positioning & messaging, product launches, career development. From a passionate community of product marketers. 🎤B2B Marketing Leaders / The DGMG Podcast with Dave Gerhardt. 💡Interviews with B2B tech and SaaS CMOs. Another prime example of a modern B2B marketer. 🎤Seeking Wisdom with David Cancel. 💡Professional and personal advice from a prolifically successful tech entrepreneur. 🎤Sweathead with Mark Pollard, Strategy Friend. 💡The podcast that spawned a massive community of strategists. Mark’s interviews reach the depths most people get nowhere near. 🎤Exponential View with Azeem Azhar. 💡Discussion with leading thinkers about the technology and trends shaping the exponential era, led by an extremely smart host. 🎤Eat Sleep Work Repeat with Bruce Daisley. 💡Work reimagined and improved for the modern age. Running since before the pandemic but even more pertinent now. 🎤Masters of Scale with Reid Hoffman. 💡Advice from an impressive array of guests to help entrepreneurs and ambitious corporate workers scale at speed, hosted by a man who has been there, done it and got multiple t-shirts. Thank you for listening to our podcast. We’d love to hear your feedback and suggestions for future episodes, so please get in touch with me at [email protected].