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Data-driven retail: maximize performance through effective use of data

Bring your data together, get the complete picture and ensure everyone pulls in the same direction to improve the bottom line

The Challenge

From price tags to bar codes to mobile points of sale, technology has always impacted retail.
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In today's market, data has never been more important as consumers can affect your bottom line without ever coming into your store.

Recent research shows quality of data was quoted as the top challenge when managing shopper interactions, and 94% of retailers said they are not satisfied with their ability to use customer data in their operations.
But with so many transactions happening online which you can't control, how do you keep your customers happy?
How do you differentiate yourself from your competitors? And how do you stay ahead of them?

Combining disparate data sources wastes valuable time: Fragmented views of data across disparate systems (e.g. CRM, ERP, order management, pricing and merchandising, etc.) make it harder to be an efficient retailer. When the time taken to collate data for reporting eats into a manager's day it takes them away from the shop floor and from managing their team, which is where they should be focusing their efforts. What they need is fast access to information that answers their key questions, so they can get on with their day job.

Old data leads to inconsistent decisions: Without access to updated and timely information it's hard to measure performance and progress, leading to confusion and inconsistent decisions. What you need is a consistent, up-to-date view of important metrics, where each manager sees critical information about their part of the business and how they are performing relative to the rest of the operation.

Lack of location intelligence means you're losing out: Not taking advantage of you location data means you're missing a trick when it comes to competing against your rivals. Using your location data effectively can provide insights into your customers and their behavior, which can help you to run more effective marketing campaigns and inform decisions about stock levels to ensure the smooth running of an omnichannel business.

The Solution

Retailers survive or thrive by managing supply chain, optimizing pricing and understanding customers to ensure the right product is in the right place at the right time. DecisionPoint can help you optimize operations, improve service levels and ensure you always have your finger on the pulse of your business.
Combine
Combine all your data:

With DecisionPoint, you can get a complete view of your business, enabling you to reduce transportation costs, manage inventory and increase collaboration with customers, marketing, suppliers and merchants. You will also be able to keep an eye on pricing and profitability to improve the bottom line, detect and prevent fraud and manage risk.

Create
Create information apps quickly and easily:

Today's retailers operate in a fast-changing environment and the information shared throughout the organization needs to keep pace with these changes. To keep you one step ahead, DecisionPoint lets you create and update apps fast, without coding, so you'll never make a decision based on old data.

Update
Automatically update apps throughout the day:

To ensure the people in your business always have their finger on the pulse of your organization, you can schedule apps to be refreshed periodically throughout the day (e.g. every minute, every 10 minutes, every hour, etc.). This way, business people always have the latest information available at their fingertips.

Keep Up
Incorporate location data to keep up with customers and competitors:

The advanced mapping capabilities of DecisionPoint gives you the ability to understand where your customers and competitors are, so you can make data-driven decisions on questions of where to plan new stores and how to improve logistics in certain areas, as well as accurately compare yourself to competitors and determine future actions based on correct information.

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What you get

12 month subscription to DecisionPoint, including support and maintenance:
  • Connect and merge data from different sources, e.g. CRM, ERP, order management systems, pricing software, etc.
  • Create stunning information apps without coding
  • Deliver to mobile devices (and desktop browsers), empowering your business people wherever they are
  • Schedule refresh of your data to make sure people always see the most recent numbers
  • Ensure each manager sees the big picture so he or she can make the correct decisions for your business.

The Takeaway

DecisionPoint enables retailers to close the gap between just having data and actually putting it to use, allowing modern retailers to accurately track, measure, analyze and visualize data that's critical to running an efficient business.

Are you ready to squeeze more value out of your retail data?

Request a demo today

Featured download

Your Guide to Becoming a Data-Driven Organization

Packed with advice, tips and examples you can put to work straight away

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