Retail & eCommerce
Retail businesses can become efficient and change-ready by using insightful data to drive decisions. This data can be derived from spending trends of customers, competitive pricing, catalogue and industry diversification, supply chain management, inventory management, product and brand positioning, and competitor analysis. Data can also be generated from customer service and payment gateways, which gives a bird’s eye view of the challenges faced.
For retailers, customer footfall governs conversion rates and thereby profits and growth. Footfall count will also provide data to analyze purchase trends, demography of customers, average purchase sizes, and many other critical parameters. The volume of such data will be high and would require a lot of time and effort to collect, validate, and share with analysts. Moreover, the data collected might not give an accurate picture due to various discrepancies that might creep in during gathering, validating and sharing it.
In recent years, social media plays an important role in the way business is conducted. Customers are now either looking for information or sharing their experience via social media even before they make a purchase decision. The Infoveave™ Visual Analytics Studio is rightly positioned to address these challenges and vastly benefit retailers.
Correlated Social Media Analysis
With the boom in social media usage, retailers can analyze data that the public shares about your products or services on social media platforms like Twitter and Facebook.
The Infoveave™ platform performs complex and time-consuming tasks in just a few clicks. The Retail industry starter pack enables retailers to decipher complex data and convert them into actionable insights.
With the Infoveave™ platform, you can analyze complex business scenarios to see how you could run the store at peak performance. You could also share these visually detailed infoports and infographics with your suppliers to collaborate better as well as add notes or comments for specific parameters or stakeholders on your dashboards. The platform’s capability to analyze and correlate data from social media platforms and generate infoboards will enable you to take actionable decisions for a thriving business.
- Average basket size
- Footfall count
- Store conversion rate
- YoY sales growth
- Gross margin
- Profit per customer visit
- Market share, customer growth rate
- Average sales per sales executive
- Sell through percentage
- Top 10 best-selling types
- Best-selling sizes in men & women
- Peak trading hours
- Weekday sales versus weekend sales
To know more about the Infoveave™ platform, request for a demo and we’ll be glad to answer your queries.