Oracle has revealed that it has implemented its cloud-based retail solutions at Prada Group, a prominent luxury brand. By leveraging Oracle's Retail Xstore Point-of-Service (POS) and Oracle Retail Customer Engagement Cloud Service on mobile devices, Prada Group can gather valuable information about customer preferences and purchasing behaviors. This data can subsequently be analyzed to inform strategic initiatives aimed at enhancing customer loyalty.
"A global player like the Prada Group takes the time to understand the data around its customers, including attributes, behavior, and preferences. The marriage of planning and analytics with the customer experience technology allows a retailer to predict, personalize and deliver on its brand promise. We are delighted to celebrate the successful deployment of our cloud-based, AI-infused retail planning and forecasting solutions integrated with our omnichannel solutions at Prada Group," said Mike Webster, senior vice president and general manager of Oracle Retail.
Prada Group has recently implemented Oracle Retail Cloud Services for Merchandise Financial Planning, Assortment, and Item Planning, achieving positive outcomes in its merchandising operations. This implementation involves improving sales and forecast accuracy, conducting thorough performance analysis, and enhancing inventory management and allocation. By utilizing this data, Prada Group intends to gain deeper insights into its operational processes, improve scenario planning capabilities, and respond swiftly to market changes.
"Understanding our customers and their journey is critical to our success. Technology can help with that and allow us to innovate faster, to drive value, and ultimately growth. With Oracle, we have built a trusted relationship and know we can rely on the team and their technology to meet our business needs," said Lorenzo Bertelli, Prada Group Marketing Director and Head of Corporate Social Responsibility.
In the upcoming phase, Prada Group plans to implement Oracle Retail Demand Forecasting Cloud Service, a forecasting engine part of the Oracle Retail Analytics and Planning suite. These solutions will be built upon the Oracle Retail AI Foundation, which provides advanced analytical insights to guide decision-making in areas such as planning, purchasing, inventory management, and sales.
Elsewhere, Oracle has announced new features and capabilities within the Oracle Fusion Cloud Applications Suite.
