Importance of Business Intelligence and Analytics in Retail Industry

| March 4, 2019

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How business intelligence in the retail industry is about gaining valuable insights that facilitate strategic decision making. Importance of Business Intelligence in the Retail Industry.Driven by data, business intelligence solutions gather data through data mining techniques and analyze it to identify the process gaps, enable business expansion, and make informed decisions.

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Advertising Specialty Institute

The Advertising Specialty Institute (ASI) is the largest media, marketing and education organization serving the promotional products industry. ASI connects suppliers and distributors through ASI’s robust industry-leading network, which boasts over 25,000 supplier and distributor members. ASI members have access to the world's most powerful promotional product network, ESP, where three out of every four promotional product searches occur.

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How is Point of Sale Software Changing in 2020?

Article | June 25, 2020

All great businesses are blooming on the edifice of POS, which stands for Point of Sale System. Every inch of your business consistency, management, and profits is subjected wholly and solely to the retail POS system. As we all are aware of its importance in a business and how effectively it tends to expand business empires and profits. In other words, a retail POS system is like a Midas touch to your business; it enhances it and enhances it for good, adorning it with golden profits. The idea of POS software is simple. It excludes every chance of human errors and inconsistencies, holds back your company's loss, and increases the productivity of your checkout counter. This is all it does, and all of these tasks are simple, but they are reassuring business tactics that ensure promising gains and remarkable retail growth.

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Can AI give retail a boost?

Article | June 25, 2020

The retail industry has undergone multiple transformations during the past century, with those who adapt and innovate continuing to survive. It also helps if one is exceptionally unique. It seems that the world's consumers have gotten a little tired from having to explore multiple shopping locations to find what they want or need. But the opportunity for companies to display their branding and sway customers to buy more than they need was once considered a ground breaking idea. In the United States (US), before 1916, customers would pass their grocery list to a clerk, who would then put items together for shoppers in one bag. That all changed when Piggly Wiggly opened over 100 years ago – allowing customers to instead browse the store and collect the items by themselves in a basket.

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Are you thinking about retail customer experience all wrong?

Article | June 25, 2020

It's not hyperbole to say that modern retail lives and dies by one overwhelmingly powerful metric: the customer experience. But knowing how to actually provide it, to a given retailer's unique collection of customers, is what has escaped so many of the retailers we once thought were too big to fail. As the industry becomes more conceptually innovative and tech-driven, there isn't a single obvious path that guarantees the ability to deliver on that promise. Customer demands pop up too quickly, and retailers are running out of fingers to plug the dike. It's time to find a more sustainable approach.

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what impact will it have on convenience stores?

Article | June 25, 2020

The Internet of Things (IoT) is not an elegant phrase, but for independent retailers, it is an important one. It refers the way in which computing devices embedded in everyday objects can communicate with each other. In shops, this could mean anything from shelf-edge labels to fridges, to vending machines to security cameras. For cameras, the IoT provides the connections necessary to record, analyse and identify known thieves who might enter your shop. Nick Fisher, chief executive of Facewatch, has high hopes the system could help his company become a major benefit to retailers of all sizes. He says: “Convenience stores are a significant market for us. They have high footfall, a problem with theft and there are not enough police to help stop it.”

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Spotlight

Advertising Specialty Institute

The Advertising Specialty Institute (ASI) is the largest media, marketing and education organization serving the promotional products industry. ASI connects suppliers and distributors through ASI’s robust industry-leading network, which boasts over 25,000 supplier and distributor members. ASI members have access to the world's most powerful promotional product network, ESP, where three out of every four promotional product searches occur.

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