News: New Oracle algorithms designed to reduce time required to manually complete the processes.
Oracle has improved its Retail Suite by embedding it with analytics expected to help retailers personalise offers, streamline operations and increase sales and margins.
The company also introduced Oracle cloud services with SaaS, PaaS and IaaS offerings.
By using the cloud service, retailers gain real-time insights into comparative sales, salesperson productivity, merchandise productivity and store traffic.
Oracle Retail Merchandise Financial Planning Cloud Service means retailers will be able to conduct collaborative planning across commerce and align day-to-day decisions that impact sales.
With the Oracle Retail Customer Segmentation Science Cloud Service retailers will be able to increase sales and improve customer service by identifying why customers buy certain items, allowing the sellers to personalise to meet their needs.
Oracle has also enhanced Retail Xstore Point-of-Service solutions which will provide enhanced mobility, improving exception management and enabling better customer engagement.
The new Oracle algorithms are designed to reduce the time required to manually complete the processes that typify retailers’ complex invoice matching process by automating up to 90% of invoice matches.
Oracle Retail senior vice president Jill Standish said: "Engaging and maintaining customer loyalty across channels requires exceptional insight and integration from planning to marketing to fulfillment, and with this release Oracle brings all the pieces together.
"For the first time, retailers can use Oracle Cloud services to pinpoint promotions customers want to see, forecast and meet demand for items with unique attributes and manage inventory in a singular, more effective manner across commerce, store and wholesale channels."