Retail BI & Analytics
Insights to Improve Customer Journey Experience
Retail Business Intelligence is not something new. Retailers have been tapping into data for years now, gaining what is called consumer or shopper insights to improve their performance. They have access to loads of data that comes from multiple data sources: purchase transactions, CRM data, customer loyalty programs, etc.
Now, in the age of the consumer, achieving customer satisfaction and engagement is more challenging than ever. This is an era where consumers are super informed. They want to know everything, and in real-time. They expect companies to provide solutions immediately. That’s why retail business intelligence solutions are being used to get a much better understanding of customer behavior and preferences. In this new consumer era, business intelligence for retail is no longer a plus, it’s a must-have.
Necto is the most secure, centralized and state of the art business intelligence. It uncovers the hidden insights in your data and presents them in beautiful dashboards powered with KPI alerts and is centrally managed. Necto is leading the retail business intelligence software industry by allowing unique recommendation, personalization, and insight finding technologies that enable users to discover what they need to know and use collaboration capabilities to quickly address the issues found.
With Necto, retailers get automated insights on any anomaly in data like a decrease in sales. Then they can drill down to find out why it happened and who is involved. They can create a discussion with the relevant people to solve the problem and appoint an automatic notification to follow any changes in the situation.
Business Intelligence for retail needs to maintain one version of the truth and data accuracy. This is only possible with a centralized solution like Necto. Data is updated for everyone in one same web solution, but IT oversees data access permissions. For example, in a centralized environment, you can distribute a dashboard to all your sales people, and each sales person will only be allowed to see the data that belongs to his area. Store managers can have access to dashboards that allow them to visualize and analyze their store data. They can get notifications if there are anomalies in the data. Retail business intelligence will empower store managers and sales associates by delivering data analytics right to their hands.
Examples of Use Cases
A more effective use of inventory, better management of the distribution and logistic network, and real-time improvement of product pricing in line with actual demand.
The ability to provide details drilled down to branch level, departments and even individual products, so that each manager or supplier could see the information relevant to him or her.
Successfully track Key Performance Indicators (KPIs)
Collaboration between logistic departments in different locations.
Get automated insights on any anomaly in data like a decrease in sales. Then drill down to find out why it happened and who is involved. Create a discussion with the relevant people to solve the problem and appoint an automatic notification to follow any changes in the situation.
Use insights to engage with your customers and create the best offer for them through personalized marketing campaigns.