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.

Our ready-made analytical solutions for the subscription economy

  • Subscriber analytics – Monitor subscriber trends, activation, suspension, and termination data to discover what prompts new subscribers to join and what pushes them to churn. This visibility helps create more targeted campaigns, improve customer service and decrease churn
  • Charging Predict subscribers’ behavior using small deviations in subscribers’ activities. This visibility can be used to correlate subscribers charging trends with marketing data to discover what causes subscribers to increase or decrease their prepaid balance.
  • Billing – understand billing trends over time, across products and customer segments. This visibility helps focus on offering the right products to the right customers, avoiding disputes and discounts
  • P&L analytics – Fully integrated into the CPQ application and allows account managers and finance users to view a P&L report on a specific proposal online as part of the CPQ process. Users can also perform P&L simulations on proposal prices, monthly revenues, cost and interest rate to show the potential impact of the changes on the proposal profitability and make sure the proposal is profitable for the whole duration of the contract
  • Collections – Quantify the impact of current subscriber debt on the business outcome. This insight helps create more targeted campaigns that improve collections, decrease subscriber debt and reduce collection cost
  • IoT – Understand IoT usage trends across time, device types, locations and other sensors’ data. IoT Usage Analytics module can help improve customer satisfaction if the CSP shares usage insights with its customers, so that they can manage their device inventory based on real business needs.