Gain and maintain a competitive advantage
The Retail industry is an information-driven industry. The current disruptions in the retail industry have reached never-before-seen highs, plus innovations in online and instant shopping, click and collect, as well as home delivery scenarios popping up on websites have allowed retailers to expand their go-to-market strategies to include multiple channels and improved customer communications. As a result the amount of internal and external data has also increased exponentially.
Retailers who use data analytics in their organisations are ahead of the curve when effectively motivating and marketing to customers. Integrated technology is now driving competitive advantages for those companies who have invested heavily, because they now have deeper understanding of their market and demand.
Retail data analytics can also be used to improve efficiencies in daily operations which can directly affect cost savings and market position.
Advanced analytics and machine learning techniques allow retailers to predict the future. However, the real opportunity lies in using customer insights to find sales and margin levers.
Customer engagement assessment
Share of wallet
Customer churn prediction
Fraud analytics
Recruitment analytics
Retention risk analytics
Workforce safety analytics
Using these workforce analytics solutions, retailers can match their employee resources with demand, potentially resulting in increased sales, higher productivity, improved customer service, minimised overtime costs, fewer labour law violations and improved profitability.
