Coles launches new data analytics tool for partners

Supermarket giant harnesses customer and transaction data to provide insight around product performance to suppliers

Coles has taken the wrappers off a new data analytics tool harnessing more than 2500 data points aimed at providing suppliers with unprecedented insight into how products are performing.

The new Coles Synergy tool has been developed in partnership with global market analytics provider, IRI, and takes data sets from 2500 points across the group’s supermarkets, Coles Express stores and Coles Liquor locations. The pair struck up the partnership last year, a deal which gave IRI sole access to Coles scan data and analysis in order to build new data-led offerings.

Coles Synergy is based on IRI’s Liquid Data platform, which is already in use across other supermarket chains worldwide including Waitrose, Morrisons and Books in the UK, as well as Kroger and Albertson in the US.

Coles said the Synergy tool will provide prompt and detailed insights across products, stores, geographies and sales channels. This will give suppliers a better understanding of customer needs and performance, and enable Coles to work more collaboratively with them.

More widely, Coles also noted it’s tapping insights from more than 1 billion customer transactions annually to inform operational decisions, stretching from product ranging to demand forecasting and promotions.

Read more: What digital and personalisation look like at Coles Group

“Coles Synergy will allow suppliers to view all relevant market insights across our business using the same measures we use within Coles,” the group’s chief executive commercial and express, Greg Davis, said.

“Having a common understanding of the market will make joint business planning easier and foster deeper relationships so we can work together to bring innovative products and great value to our customers.”

The deal with IRI is one of many partnerships Coles has struck in recent years to lift its data-driven decision-making game along with digital capabilities. Other technology partnerships in this vein include a strategic partnership with Microsoft in 2019 to transform operations and derive greater business insights through data; a long-term deal with Accenture to enable smart selling and revitalise customer strategies; and the implementation of SAP S/4Hana, SAP Ariba and Infor GT Nexus to improve procurement, finance processes, reduce freight import costs and improve availability.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia. 

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

Invest and earn with Coinbloc .us. Guaranteed Weekly ROI, early signals, fast withdrawals among others. I recommend Coinbloc .us as on...

Hans Jensen

Explainer: What marketers need to know about cryptocurrency

Read more

Investment decisions are a big deal, so why not get some guidance? You can day-trade cryptos, BUY and HOLD and evaluate the assets with f...

Dave Sigurd

Gartner: Digital isn't enough of a superpower for CMOs anymore

Read more

I normally don’t feel comfortable investing online but because the company I worked for downsized due to the pandemic and I was one of th...

Dave Sigurd

CMO's top 8 martech stories for the week - 9 June 2022

Read more

Investment decisions are a big deal, so why not get some guidance? You can day-trade cryptos, BUY and HOLD and evaluate the assets with f...

Dave Sigurd

Creating a marketplace for wellness

Read more

A solution for an retail industry data extraction. https://e-scraper.com/usefu...

"e-Scraper" Data Extracting

​Catchoftheday launches fee-based online shopping club

Read more

Blog Posts

2 hidden ingredients for leadership success CMOs need to know

Your success as a senior marketing professional has much in common with your success as a leader. Both marketing, and leadership activities, depend on building trust, encouraging action, and reliably fulfilling promises that have been made.

Gerard Penna

Leadership advisor, coach

How shifting economic trends are impacting digital media

Between further interest rate rises, inflation​, empty shelves, extortionate lettuce prices, supply chain issues and the barely believable events in Eastern Europe, the past six months there’s been a cacophony of environmental factors.

Kieran Reed

Senior digital manager, Alpha Digital

5 ways to turn imposter syndrome into confidence and conviction

Imposter syndrome. That feeling others will discover you are actually not as good as they expect, and at any point you will be exposed and ridiculed as a fraud. If you can relate to this, then you are not alone.

Rowena Millward

Author, consultant

Sign in