sharnarahul

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Uplift your Sales with Retail Analytics and Big
Data

• With the prominence of data science, businesses
  started realizing the importance of investing in
  retail analytics solutions.

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Improve your sales with Retail Analytics and Big
Data

• The retail industry is an extensive storehouse of
  data, including customer data, supply chain data,
  merchandising data, sales data, etc. Ironically,
  most of these valuable databases largely remained
  untapped till a decade ago. With the prominence
  of data science, businesses started realizing the
  importance of investing in retail analytics
  solutions.
• Data-backed insights are more precise as opposed
  to guesswork or gut-driven directives. With
  new-age, data-centric retail enterprises
  garnering astounding success, it is evident that
  data-backed decisions drive higher sales and
  profitability.
• Here are five proven techniques to boost your
  retail sales and profitability with data
  analytics

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Embrace Planogram Automation

• Using the right retail planogram software can
  bring about incredible transformation in your
  stores merchandising. For instance, turning
  around a store for the festive season,
  end-of-season sale, or showcasing new products
  can be challenging. The entire layout requires
  planning, designing, and execution from scratch.
  Automated planograms can achieve a high level of
  precision and meticulousness.

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Use the Right Retail Analytics Solutions for
Predictive Analytics

• The retail industry is a customer-focused
  industry, i.e., retail strategies primarily aim
  to cater to the latest consumer requirements.
  Since consumer trends and preferences are highly
  dynamic, relying on gut-based/instinctive
  planning is too risky. AI-run predictive
  analytics tools and algorithms can yield concrete
  data and actionable insights to steer your retail
  business decisions in the right direction.

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Focus on the Metrics that Matter

• A common mistake of most retail businesses is
  paying attention to retail figures that dont
  matter much. Based on your customer profile,
  products, and outlet specifications, a proficient
  analytics team can assist you with metrics that
  matter. The best example is that of store
  footfalls metrics. Sensors for footfall counting
  will take the headcount of every individual that
  enters the store by default. But if you have
  families/large groups frequently visiting your
  store, taking an individual headcount will yield
  misleading footfall figures.

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Provide In-Store Virtual Assistance

• Virtual Assistants are not in vogue from the
  customer service point of view. They can be an
  excellent mode of collating crucial data on the
  latest customer preferences. In the current
  Covid-19 situation, virtual store assistance can
  deliver a personalized yet contact-free shopping
  experience.

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Rely on a Holistic POS System

• Gone are the days when POS systems task was to
  compute and accept payments. Today, a holistic
  retails POS system is the focal point of your
  daily store SOPS, reports generation, and
  employee accountability. If you want to set up
  new retail stores or transform existing ones, opt
  for a cloud-based, digital, and wireless POS
  system. Such a system will boost your operational
  capabilities and enhance the customer experience.
• Conclusion
• Merely capturing customer data or gathering
  supply chain data will not help propel your
  retail business ahead. These can be converted
  into actionable insights to drive effective
  business decisions with the right AI tools and
  algorithms. Big data can revolutionize your
  performance, whether it is the cutting-edge
  retail planogram software, holistic POS systems,
  or predictive analytics. Leveraging the right
  metrics will steer progress on all fronts-
  retails operations, merchandising, sales,
  brand-building, and CRM.

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Contact us -

• Website https//www.denave.com/
• Email sales_at_denave.com
• Phone [phone] (PAN India)
• 60 321681913 (Malaysia)
• 65 68361762 (Singapore)
• 44 203 828 0926 (UK)