Business Analytics – Five Advantages for Retailers

Modern technologies such as in-memory databases, multi- and hybrid-cloud platforms or virtual data sandboxes facilitate quick analyses of diverse data – even in real time, if required. Online suppliers and franchisers understand how retailers benefit from collecting and analyzing data:

1. Optimizing stock: identify gaps in shelves and refill them in time

Empty shelves are unwelcome because in daily operations out-of-stock incidents have a negative impact on revenue and customer satisfaction. To identify gaps in shelves at an early stage, historic sales data and expectations can be compared with the actual sales in a timely manner. In view of 70 million decisions to be made every day regarding scheduling, more and more German discounters rely on increasingly high-performing IT to optimize their inventory and shelf management. They use historic sales data as well as current trends and special events, such as holidays or pay days before holidays. In addition, franchise managers can intervene in ordering processes manually and add stock on demand.

2. The best decision regarding new locations: analyze demographic data

Are you planning to open a new branch and would like to know which location is the most profitable for your business? Analyze demographic data to determine the spending power in your industry at diverse locations. These analyses also help identify the special features of every location, for example, holiday destinations, which you can then take into consideration for your calculations.

3. Just in time: monitor deliveries in real time

Let your data speak and find the answers to these and other questions in real time: Where in my ordering process am I wasting time? What are the effects of inventory levels on my delivery accuracy? Does my revenue match my delivery accuracy? Example: A major package delivery service evaluates the data relating to its delivery vehicles in real time to determine which routes to modify on short notice for full utilization. Every vehicle transmits to the cloud its current location and the number of packages already delivered and those that are still in the vehicle as well as information on the package-delivery stations.

4. To sell or not to sell: perfectly timed sales campaigns

Integrate predictive analytics to identify frequently purchased product combinations or to include the time of day or information on the season or the weather into your promotional campaigns to make your product offerings more flexible. Leverage the data provided by these foresighted analyses for cross- or upselling effects and gain a competitive edge. Just imagine it is spring and most garden flowers have not survived an unexpected frost wave. You know that as soon as temperatures rise above 15 degrees again, people will flock to the stores to buy plants. You can save the Flower Sale campaign in your store’s ERP system to ensure it starts automatically when the thermometer rises.

5. A quick overview in the morning: breakfast figures for managers

Use Microsoft Power BI as a tool for up-to-date visualizations, reports and dashboards to view “breakfast figures” on your smartphone or for more in-depth analyses. Precise standard reports that can be transmitted automatically and direct access to consolidated figures with Excel will answer all your questions.

Sales forecasts, personalized search recommendations, optimization, payment mix – implexis’ xReach.analytics solution uses sound analyses to determine how effective your activities are. To facilitate real-time analyses of shop systems, cash registers, mobile devices (mobile data acquisition) or individual sensors, implexis also integrates real-time interfaces at your request. Contact us today to find out how valuable your data is!

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