November 02, 2021
Blog Post
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Retailing, in its many different forms, is probably the most competitive industry as companies strive to serve customers better in terms of the experience, pricing and delivery. They also need to ensure that they do so profitably.
All this requires in-depth knowledge of the customers’ current and future needs, while keeping track of operations to ensure that costs are kept down. But not at the expense of a lower quality of service.
This is the reality that retail operators of any size face, whether these are based online or are traditional brick-and-mortar. Or, more likely, a combination of both. And yet, the insights they need to take the right decisions are often not available.
This often leaves decision-makers frustrated as they are unable to get even the most basic information they need or, worse, having more than one version of the “truth” at their fingertips when they need it. To make matters even worse, they feel that the IT teams are not necessarily treating this as a priority, leaving decision-makers with a feeling of a lack of control over the areas they are responsible for.
Having said that, retail businesses do generate loads of data through their CRMs, databases, inventory systems, delivery data, PoS terminals, and emailing systems, amongst others.
But data alone will not drive sales and profitability. Insights are needed that can be extracted from the data and that allow the right decisions to be taken.
Business Intelligence in Retail
These insights can only be generated if the most basic of questions can be answered using a company’s BI capabilities, allowing you to have answers to these questions when and where you want them.
Such questions include:
At Cleverbit Software we help companies like yours transform their data into their most significant asset by helping you collate data from across all your systems, mine it, and then transform it visually into maps and graphs that your team can interact with. This will allow everyone to gain insights that will improve decision making and will lead to an improvement to the bottom line.
Headquartered in Europe, Cleverbit Software is a prominent custom software development company, employing over 70 skilled professionals across the EU, UK and US. Specialising in custom software for business efficiency, we work with a diverse international clientele in various industries including banking and insurance, SaaS, and healthcare. Our commitment to solving problems and delivering solutions that work makes us a trusted partner with our clients.
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