Tag Archives: Big Data

News, Supply Chain

WCA CEO announces Keynote and speakers’ lineup for Big Data virtual event (Episode 2) on 27 July 2022, 2-5 pm BST(UK)

Register for free here: https://us06web.zoom.us/webinar/register/WN_Em6an8plShucW7JLREdThw

LONDON, United Kingdom – World Coffee Alliance (WCA), a leading network alliance of coffee industry professionals and stakeholders, producing critical insights including market research, due diligence reports and technical advice to the actors in the global coffee value chain, will hold Episode Two of the WCA TECHNOCOFFEE INNOVATION SERIES: DEMYSTIFYING BIG DATA IN COFFEE virtual event on Wednesday 27 July 2022 from 2:00-5:00 pm BST (UK time)/9:00 am-12:00 EDT.

Joseph de Villiers, CEO and Founder of World Coffee Alliance (WCA) said, “As ever, I am delighted to announce that our Keynote for Episode 2 of our WCA Trilogy in Digital Traceability – Big data virtual event is Vanusia Nogueira, Executive Director, International Coffee Organization (ICO). I believe that with her vast experience in the private sector, she will bring new impetus and energy to the global coffee industry and will provide a dynamic leadership with a vision that can hopefully bring some real and meaningful changes where needed.”

Vanusia commented, “I am delighted to be the Keynote for WCA Trilogy in Digital Traceability – Big Data virtual event. Big data plays a very important role in the sustainability and traceability of the global coffee value chain. However, in the end, question will be whether coffee producers and consumers can benefit from the use of this technology and how it can help mitigate or enable adaptive measure to address Climate change, specifically deforestation.”

Other confirmed speakers include David Davies, CEO and Founder, AgUnity (Inspirational Speaker), Cees Homburg, CEO, FarmersDirectCoffee (Solution Provider Speaker), James McKay, Principal and Founder, McKay Research (Moderator), Paul Rooke, Executive Director, British Coffee Association (BCA), Dr. Memoona J. Anwar, Chief Compliance and Innovation Officer, Data Zoo, Helen Bellfield, Trase Deputy Director, Global Canopy, Peter Kettler, Senior Advisor, International Trade Centre (Moderator), Dr Aaron Davis, Senior Research Leader, Crops and Global Change, Royal Botanic Gardens, Kew., Jade Saunders, Senior Policy analyst and Board member, World Forest ID, Priya Guliani, UK Pre sident, Government Blockchain Association (GBA).

Sponsors for this event include AgUnity (Episode Sponsor) and FarmersDirectCoffee (Solution Provider Sponsor). David Davies, CEO and Founder, AgUnity commented, “Did you know that most of the world’s coffee is grown by largely invisible micro-farmers? Current traceability occurs with big farms, but many small farms are left out. Collecting data from them is extremely difficult, resulting in millions of missing data points. We can solve this issue by tracking data from the source. However, with micro-farmers living in remote regions without connectivity, the challenge must first be addressed by enabling digital inclusion of the last mile, alongside the coffee industry following a path of standardised data acquisition. I look forward to inspiring the coffee industry on how this is possible.”

Cees Homburg, CEO, FarmersDirectCoffee: “Thank you for the opportunity to present at the WCA Big data virtual event. Our Coffee Coalition makes the coffee chain traceable and more transparent. With this initiative, farmers are co-owners. Using open source blockchain technology, a CO2 calculator, and the FarmersApp, we add value to data for the entire chain.”

Big data is the main topic for Episode 2 of WCA Trilogy in Digital Traceability. The areas of discussion will include its impact on the coffee supply chain and Climate change. Big data has an increasingly pivotal role in e-commerce and coffee retail, developing new methods of tracking and delivering orders, and maintaining compliance. The event will also focus on the role of big data in identifying some of the critical issues in mitigating Climate change, especially in deforestation cases, where they require urgent action.

The British Coffee Association (BCA) our event partner. Paul Rooke, Executive Director of BCA said, “BCA Is happy to support WCA in this virtual Big data event particularly with regard to its impact on the supply chain and the role it can play in delivering a sustainable coffee future. Increasing data volumes can give us all more precise knowledge and information to support the whole coffee community whether that be in better informing consumer choice, building best practice information for the producer or streamlining and enhancing the movement and production of the coffee – all to ensure we can continue to grow and enjoy this special beverage.”

Register for free here: https://us06web.zoom.us/webinar/register/WN_Em6an8plShucW7JLREdThw

E-Commerce, News

How online brands can use big data to deliver a small business experience

With eCommerce now the dominant channel for retail, consumer expectations surrounding cost, choice and convenience are at an all-time high. 2022 research from PFS showed over half (56%) of consumers are most likely to purchase leisure/non-essential items online, and this is not changing. Consumers of all generations have become very digitally-savvy, and marketplaces such as Amazon – with the availability of one-click and same-day delivery offerings – are setting the stakes higher than before. In fact, PFS findings has also revealed that 54% of consumers today prefer to have a variety of delivery options, with free delivery/shipping making up the ultimate shopping experience for 66% of consumers. Never has the retail landscape been so competitive, with many shoppers turning their backs on retailers if their ideal online experience isn’t fulfilled.

By operating online, brands are already on the right track for keeping customers satisfied. 42% of respondents agree they receive a more personalised experience online than in stores, as they receive benefits such as personalised recommendations, sizing predictions – which continues to be a key differentiator.

Here we explore how retailers can use big data and the areas it can be leveraged to drive growth online.

Big data and real-time inventory management

One of the most impactful cases for big data is its ability to transform inventory management – reducing costs and improving efficiency whilst increasing customer satisfaction. With industry shortages taking their toll on the retail supply chain and effective stock management, being able to anticipate customer needs and forecast demand has never been more important. With customers growing increasingly fickle, an out-of-stock item can be enough to not only miss out on a sale to a competitor now, but potentially lose out on a future customer.

Real-time inventory management systems work in conjunction with big data to provide retailers with the ability to not only track but notify retailers of stock volumes – something that is crucial when maintaining customer loyalty. Monitoring stock levels in this way and ensuring that new product is ordered accordingly, not only avoids the risk of disappointing customers and losing sales, but also creates the opportunity to spot purchasing trends. This is particularly important during periods of peak trading and seasonal holidays such as Christmas, Valentine’s Day, and the summer (especially when it comes to sportswear), to ensure adequate preparation and inform decisions made around promotions.

By combining data gathered from purchases and searches made on the site, retailers can create a clearer picture of what items are in high demand, and therefore which items and stock-keeping units (SKUs) they should reorder. Insights into sizes and other variations of the products can be particularly helpful and provides retailers with the opportunity to maximise sales and profit margins by cutting their losses on any items that aren’t performing well and ensuring ample stock of those that are. Operating this way can reduce costs regarding warehouse and logistics costs, reducing the amount of stock held and possibly reducing returns.

Digging deeper into the supply chain, big data can also provide brands with transparency around where product shipments may be lagging, and potential bottlenecks occurring. Such information, when passed on to the customer can be extremely effective. Customers appreciate being kept informed, and the more detail and personalisation brands can provide, the better.

Leveraging data to inform and transform business processes

By using these insights, retailers can improve their current operation, including which delivery options to provide, subscription, free delivery, as well as return processes.

There is a wealth of information that can be gathered from returns forms and other feedback streams, including contact centre engagements and even social media posts – the fulfilment operation can even inform the customer service function, if under one roof. Doing this will create a subliminal message with customers that their needs are being acknowledged, and efforts made to meet these.

Using big data, online brands can also add a layer of protection against payment fraud and strengthen other cybersecurity practices – protecting themselves and customers. By enabling real-time detection, analysis and collecting information based on previous purchases, retailers can trace repeat patterns to discern between legitimate and suspicious transactions.

A data-driven future

There is no denying that consumers expect more from brands than ever before. With 20% of customers admitting to not feeling any emotional connection to any retailer at all, those operating in the eCommerce space should be placing loyalty and the strategies needed to harness it at the forefront of everything they do – using real-time big data to establish better relationships with their customers. With multiple delivery options and offering sophisticated personalisation services named as top priorities for today’s convenience-craving customer, implementation of these is essential to ensure loyalty is maintained.