Importance Of Advanced Retail Analytics

by Jackson Clark SEO Executive Retail is nothing but the sale of products and services to the consumers. A retailer purchase goods from the manufacturers directly or from the wholesalers to sell them in smaller quantities for a profit. Retailing is done in a fixed shop, door to door or by courier. Mostly retail chain market is in fashion, where consumers find all retail stores and famous brands. This retail chain market is called MALLS which is more defined and have planned spaces, whereas there is also a traditional market which is old but still in operation in the whole world. Due to tough competition in the market, Advanced Retail Analytics are introduced to have innovative concepts in brands and sales.  This analytics help to improve business decisions, promote stores, and provide customers with smooth shopping experience.

Now consumers have less time to hop between stores for their needs and are intelligent enough to shop via internet, mobile apps, social media or e-commerce sites. These ideas of shopping are increasing as it saves time and are available at one’s doorstep. Intelligent shopping gives the idea of Advanced BI for Retail Groups all over the world. Advanced business intelligence product provides first rate expertise to various companies to deal with the manufacturing of the goods, sales and supply chain management.

Business Intelligence in Foot traffic Analytics

As discussed above, a seamless business needs an intelligent strategy. Retailers are now looking for better and smarter business decisions to meet future requirements. For that reason, Business Intelligence Products are designed to transform raw data into meaningful information. It is a type of application software to recover, analyze and outline data for business intelligence. It is very helpful to the retail outlets for marketing and to cope up with the rival products. BI also includes strategy of Foot Trafficking and Analytics.

Foot Traffic is the movement of people around a specific space, which is important to retail outlets. To increase foot traffic, strategy of business is to hold grand opening and many other promotional events. Retail shop owners sometimes promote their products by offering discounted sales, by demonstration or giveaway policies. So, Foot traffic is of vital consideration in urban planning. There is a need of systematic marketing which ensure consumers for comfortable shopping experience. Foot Traffic Analytics help to collect the data, analyzed and represent in a significant way. A traffic analyzer counts people in a store, calculates sales, improves allocation of labor and store performance globally.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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