LP Magazine

MAY-JUN 2019

LP magazine publishes articles for loss prevention, asset protection, and retail professionals covering shrinkage, investigations, shoplifting, internal theft, fraud, technology, best practices, and career development.

Issue link: http://digital.lpportal.com/i/1121134

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Have Your Case and Analytics Too A recent study found that 61 percent of professionals need to access four or more systems on a regular basis to accomplish their work, and 13 percent need to access eleven or more systems to get the information they need to do their jobs. A full 26 percent of the week is spent searching for information that already exists, then consolidating and analyzing the information. Most shocking is that only 16 percent of time is spent actually performing job-based tasks. Retail loss prevention teams work in complex environments, and there is a great need to simplify the complexity and automate routine tasks in order to maximize time spent proactively reducing loss. Significant value can be unlocked in utilizing a powerful and unified loss prevention software: point-of-sale exception reporting and big data analytics, case and incident management, audit management, civil recovery, team management, and everything else an LP team needs to operate all in one place. Big Data, Small Data, All Data The hype of big data in recent years has caused a shift in teams across all departments. It's not just about big data but also about small data, dark data, hidden data, long data, or any other name you use. It is the variety of data and not the amount that is most challenging. Many teams have a range of tools in place to support loss prevention but are struggling to keep pace with business needs. Employees want immediate and mobile access with tools that are as easy to use as Facebook and Instagram. Consolidating data in a single platform unifies your team and provides a platform to work effectively while offering immense value to your internal business partners. Beautiful Analytics and Articial Intelligence for Every LP Team There are four main categories of analytics: Descriptive, Directional, Prescriptive, and Predictive. Descriptive analytics tells us what and why it happened. Directional analytics tells us where we should concentrate our resources. Prescriptive analytics suggests what we should do to improve the desired outcome. Predictive analytics suggests what could happen based on an analysis of the data. Machine learning is the core driver of artificial intelligence, using algorithms to tell you something insightful about your data. Artificial intelligence (AI) sounds like a great idea, but in reality, it is not yet being used by most loss prevention teams. Our analytics platform combines the different types of analytics into a central platform to consolidate data and create visually stunning, action-oriented, and AI-driven insights without the need for a data scientist. Empowering Loss Prevention Teams with Awesome Software Your solution needs to be able to address problems today and in the future. It needs to be infinitely configurable, work on any device, comply with global information security and privacy standards, and engage your end users, all while allowing you to run your business your way. ThinkLP is a powerful loss prevention management platform, and you can implement as little or as much functionality as you wish, in whichever order you choose. Our team believes in empowering loss prevention professionals with awesome software. It's Time to ThinkLP ThinkLP is making it easy and cost effective to adopt big data analytics, case management, audit management, and artificial intelligence. The speed of innovation has disrupted the loss prevention software industry. We're humbled by our amazing client-partners who share our vision for the industry and have adopted the technology globally. Our mission is to serve loss prevention teams with awesome loss prevention software. We hope you'll consider joining us. You're going to love it. Visit www.ThinkLP.com to learn'more. SOLUTIONS SHOWCASE THINKLP 64 MAY–JUNE 2019 | LOSSPREVENTIONMEDIA.COM

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