Oracle announced the deployment of its cloud-based retail solutions at Prada Group. The famous luxury brand is on a journey to combine its physical and digital offerings to get to know its customers better and use data to deliver an increasingly personalised experience.
Why did Prada onboard Oracle’s solutions?
Through the mobile deployment of Oracle Retail Xstore Point-of-Service (POS) and Oracle Retail Customer Engagement Cloud Service, Prada Group can collect customer preferences and purchase habits. This data can then be analysed and translated into strategic actions.
Prada Group also recently deployed Oracle Retail Cloud Services for Merchandise Financial Planning, Assortment, and Item Planning to optimise its merchandising process. This includes enhancing sales and forecasts, performance analysis, inventory management and allocation.
With this data, the Prada Group aims to better understand its operations process, scenario plan more effectively, and react more quickly as the market evolves. Prada Group will next deploy Oracle Retail Demand Forecasting Cloud Service, an enterprise forecasting engine within the Oracle Retail Analytics and Planning suite. These solutions sit on top of Oracle Retail AI Foundation, which offers insights to drive planning, buying, moving, and selling decisions.
What does the partnership mean for Oracle and Prada?
“A global player like the Prada Group takes the time to understand the data around its customers, including attributes, behaviour, and preferences. The marriage of planning and analytics with the customer experience tech allows a retailer to predict, personalise and deliver on its brand promise,” said Mike Webster, SVP and General Manager of Oracle Retail.
“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.”
“Understanding our customers and their journey is critical to our success,” said Lorenzo Bertelli, Prada Group Marketing Director and Head of Corporate Social Responsibility.
“Technology can help with that and allow us to innovate faster, 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,” Lorenzo Bertelli further commented.
