Never Underestimate the Value of Retail Analytics
Retail in-store analytics provide a wealth of important information into what shoppers do inside stores and whether or not those actions turn into sales. By fully utilizing the wealth of information provided by retail store systems, retailers can better understand key store performance characteristics.
Do you have real-time ability to look at store sales across individual stores? Across the company as a whole? Are you able to identify and react to store performance trends? Can you easily understand multi-channel performance?
The right analytics tools should allow you to do all of these things. If you can use analytic data, a whole new world of strategy opens up. You can begin to use business intelligence to improve profitability, and you can empower your store management with smart-decision tools.
Our clients find that our analytic reports and features are some of the most valuable tools they use. No matter what store systems you use, you need to be able to extract this type of information. Investing in this type of analytic data, however, is worthless if you don’t also ensure that you use and act on the data to improve store performance and shopper experience.
Got questions about the types of analytics you should track and report, please let us know.