Performance Package
Why is the release of our performance package important and how can it drive more value for our customers?
- taking our two historical tools and combining UI for ease of use
- gives our connected customer the ability to see web performance data points (internal and competitive) side by side in one view
- concise data view of basket analysis and overlay
Respond to the customer: "I can't find value in this competitive data because there is no sales or inventory information"
No one has sales data as thats not publically available data but we have other methodology that we can use (ex:top movers) to use as signals to justify sales or inventory. A lot of customers still find lots of value and have used the competitive data to drive $XX amount of return in their business and used the tool to inform, X,Y,Z strategies/intiatives.
How far back does our data look in Opportunities?
Last 30 days - but its the Daily double if you answered: last 30 days from selected date (per the release next week)
Explain how Basket Analysis can provide value to our customers
This is typically a tool that most retailers dont currently have. The tool analyzes what products/categories are being frequently bought together. Combining customer and product insights to identify best sellers by customer segment.
Basket Analysis Use Cases
What are EDITED's Company values?
PEAK (Passionate, Evolving, Accountable, Kind)
Give your best 'What is EDITED?' elevator pitch
- Did they mentioned at EDITED™, we empower retailers to make intelligent decisions about assortment, pricing, inventory, and site merchandising across the product lifecycle, from pre-season planning to in-season trading.
- Did they mention we combine a robust set of competitive data that we collect from 5,000+ retail websites with a company's business data, such as transactions, inventory, and customer information, to provide insights and recommendations that are market-informed, profit-aware, and customer-centric.
- Did they mention Our AI-driven technology is purpose-built for retail and is the only platform in the market that truly gives retailers a complete view along with the flexibility to optimize decisions based on their business objectives.
-Did they mention we then feed data signals into partner activation systems to automate action from those decisions.
Respond to the customer: "My team doesn't have time to spend analyzing all of this data, can you do it for me?"
We dont offer that kind of support model but we will work with you and you teams incredibly close to help you set up dashbaords and email alerts so that the lift is only in the beginning and then it wont be a time commitment in the future. The benefit of us teaching your team is that we are also setting them up for success (teach a village to fish) so they can do this again in the future
Define 'Peer Percentile'
Metric unique to EDITED Enterprise where we will compare like for like products in the same product category to determine its success to its peers. We use the lowest product category level that we have 100 products in. (If not we move up to the next product category.)
Explain the difference between the performance data heirarchy and the business data heirarchy and why this could add value to them?
Performance Data Hierarchy - Collected using our competitive market data so it matches our competitive universe categorization
Business Data Hierarchy - supplied by them, matches their internal categorization
Benefit of Performance Data Hierarchy is that since its the same as market you can compare apples to apples when looking in myEDITED dashboards and its easier to implement as we dont need a feed provided by them
Name the founders of EDITED
Geoff and Julia
How do you define/classify high performing & low performing in opportunities
We have a complex algorithm that takes into account multiple performance factors (e.g. newness, discounting, replenishments) to identify it as either a top mover, struggling, or clearance.
How would you respond to a customer that sends a list of 50 new retailers to add into the tool?
Explain our crawler addition process and manage expectations that its a process and resource investment for us to build out new retailers. Each one is custom made so it takes a while however we are always working on expanding our data set to be in line with the changing market. If you (customer) can fill out this request form with the all the information we can add it to the list.
We will need you to first prioritize the list and we can focus on building out your top 3 to start.
Explain our Top Mover methodology
Top Movers are how EDITED defines products that are performing well within the market. There are a few different ways you can analyze Top Movers, including newness, price consistency and speed of selling. Based on the metrics you'd consider as indication of a top performing product, you can apply a combination of filters to pull in these results.
- New in + Not Discounted + First Sellout
- New in + Not Disounted + First Majority Sell Out
Explain the value that Customer Data can bring to a retailer
Data is typically not readily available to merchandisers, buyers, etc. and is held by marketing teams so having access to Customer Data can help you understand your most profitable customer cohorts, what they are buying and where they are shopping.
What year was EDITED founded?
2009
How are products surfaced in Opportunities?
Opportunities use classical machine learning, representational learning, and generative AI to deliver prescriptive, out-of-the-box insights on assortment and price adjustments. Meaning that you don’t need to manually dig through data to illuminate insights - saving time and highlighting opportunities that might otherwise be missed.
To determine what opportunity a product group falls into, we assign every product theme (group of products with similar characteristics) a uniqueness score and trend classification.
How do you respond to a customer that says "we're just not using it enough so we're going to cancel"
- Did they ask What does 'enough' mean to you?
- Did they address the Success Plan/VRP and what they said their goals were. Did they clarify if those are still the right goals and find out what the goals are now?
- Did they try to rewind the situation and find out how they've come to this decision vs. moving into 'reaction mode'?
Define Views Availability
The percentage of in-stock product views per product view. Views Availability shows your customers’ experience of product availability. In the absence of in-stock view web analytics tagging, the calculation uses the SKU Availability as of the end of each day multiplied by product views to approximate in-stock product views. A weighted average is then used to aggregate the daily calculations for longer analysis periods. In-Stock Product Views divided by Total Product Views.
A customer says usage is their most important success metric. How do you respond?
In our experience / best practice it is most valuable to understand return on investment rather than just monitor usage. While we understand usage is important, sometimes one decision powered by EDITED can provide enough value that it covers the cost of the contract. So we can align on a strategy to broaden usage but we should measure "success" on a more value driven metric.
Who is the longest standing customer?
A&F. Started in 2015 - currently in our 10th year of partnership
Explain to your Market only customer the value of expanding into Enterprise data
Get a 360 degree view of the market and your business. Being a fully connected customer allows you to have triple lens clarity -
So by leveraging all of the capabilities we have to offer we are virtually eliminating all your blindspots so you and your teams can confidently make decisions on what to make, how to sell it, and who to sell it to.
Respond to the customer: "Why would we continue to pay EDITED when Centric is offering us the same information at a reduced price?"
In head to heads with Centric we have won in terms of data coverage, data quality, customer success support, etc.
We also have the uniqueness to give you a 360 degree view of the market.
Customers typically see a return on value that is over their contract scope in just the first couple months of partnering together.
Give an elevator pitch of what our API is and how it drives value for our customers
(Application Programming Interface).
EDITED Market API offers the most comprehensive and robust market data set available to provide competitive intelligence at scale. With our advanced market data API, you can seamlessly integrate key insights into your existing BI tools/reports/data sources to better understand market trends, track performance, and make informed decisions. The API is excellent for someone that has technical partners/experience and needs large amounts of data AT SCALE. Or is looking to build custom analysis or integrate it with existing sources.
What is a metric that is unique to EDITED Enterprise that drive significant value for our customers?
Views Availability, Demand Availability
Give an elevator pitch about Triple Lens Clarity and how having a 360 degree view of your data is important
Get a 360 degree view of the market and your business. Being a fully connected customer allows you to have triple lens clarity -
So by leveraging all of the capabilities we have to offer we are virtually eliminating all your blindspots so you and your teams can confidently make decisions on what to make, how to sell it, and who to sell it to.