Numerator is a solution designed primarily for brands and retailers. It uses purchase data, advertisement intelligence, and surveys to provide insights about consumer buying. The services of monitoring competitive data and product matchings are also provided by Numerator which makes it particularly interesting for retailers and brands willing to enhance their competitiveness by means of making more data-driven decisions.
It should be noted that Numerator is positioning itself as a software provider helping primarily to satisfy shoppers and increase consumer loyalty. Subsequently, the services provided by Numerator, including ones of data monitoring and product matchings are also serving mainly as a means of improving customer retention and loyalty. The data monitoring and product matchings solution by Numerator suits the mono-brand or other retailers offering click-and-collect and direct-to-consumer options. For these types of retailers, Numerator can serve as a means of identifying the consumer needs and changing proposals by competitors. To help businesses track consumer needs better, Numerator integrates all the data and analytics within a single consumer insights panel. The latter visualizes the parameters of consumer purchases’ to provide the decision-makers with the insights into consumer influencers, behaviors, and opinions.
Advantages of the vendor’s solution
Speaking of the data monitoring services provided by Numerator, several advantages are worth being pointed out:
- First of all, Numerator allows sellers to monitor direct competitors’ websites. It means that once the price per particular product is changed, the business can react with a corresponding change in its own prices to make sure the customers’ loyalty is not undermined.
- Besides direct competitors’ websites, Numerator also provides the ability to monitor data from marketplaces. Subsequently, the provider can also satisfy the monitoring needs of a large group of resellers operating at marketplaces, like Amazon or Google Shopping.
- What is also an advantage of the solution by Numerator is a data monitoring frequency. In particular, the service is capable of delivering fresh data even every hour. Finally, Numerator provides the service of exact product matchings based on product attributes. For many players, the very feature is a huge advantage of the provider.
Disadvantages of the vendor’s solution
- It should be noted, however, that product matching based only on product attributes may cover the full spectrum of monitoring needs of some of the retailers. In practice, a combination of various approaches to matchings works best. For example, some products are matched best using ML algorithms while for the others the attributes- or barcode-based matchings are better. Therefore, the matchings based on product attributes alone have some limitations.
- Another disadvantage that should be considered while evaluating Numerator as a price monitoring tool stems from the fact that the service does not allow monitoring data from mobile applications. Taking into account the fact that Numerator is focused on improving customer loyalty while mobile applications are becoming an indispensable part of the shopping experience for many clients, such limitations might become a significant concern for some retailers. In particular, it refers to those businesses that are either using their own mobile apps to provide consumers with online shopping options or compete with the other players using mobile applications.
Eventually, all these factors should be considered before choosing Numerator as a data monitoring services provider. Considering the ins and outs of the solution by Numerator, it appears that the ideal customer profile, in this case, is represented by mono-brand retailers selling via both their own website and marketplaces. In case, the business or its competitors sells a large number of products via mobile apps, the services provided by Numerator might turn out to be not enough to cover all the business needs. In this case, a supplementing tool or solution would most likely be required.