BI Tool For Retail: Upswing Your Business In A Unique Way

The term Business Intelligence or BI may be familiar to you. But what does that really mean? There are several different definitions but to put it in simple words, BI is about delivering Relevant and Reliable information To the Right People at the Right Time to achieve better and faster decision-making in a business.

This BI tool for retail helps you extract and convert important information from your vast data structure and multiple data sources like excel spreadsheets, CRM, ERP, etc into meaningful and actionable insights.

Let Us Take A Generic Scenario:

As a management person, if you want to collect information on Production, Billable hours, and Sales goals, you are likely to go to three different experts and ask them where you can find this information then you will go to someone else who will compile it for you. So BI tool for retail is all about taking your messy data and turning it into a piece of meaningful information. This enables you to navigate through your data on your own and find what you need, without relying on others. So, management or analysts are not required to spend hours digging through complex webs of linked spreadsheets OR mashing together MIS Reports, they can easily figure out the next course of action with highly intuitive retail KPIs and track all dimensions from the dashboards.

Let Us Understand More By An Example Of Retail:

You have a retail chain that has both- Online (e-commerce) and Offline Stores. You offer your customers loyalty cards which they use at the time of Online and Offline transactions. The card captures and stores details of the customer buying in-store or online with their unique account number into your organization's databases. With the use of ebizframeBI you are empowered by having the ability to run Analytics on massive amounts of Customer information which can enable you to understand insights like:

• How loyal are customers to your brand?
• What products do they buy and how frequently?
• And if they prefer visiting the store or buying from the online store?
• What are the groups or sub-groups in the store which are not performing?
• Where do we have excess inventory?
• Feedback from your customers on social media? And many more...

What Does BI Insights Give You?

Understanding or even predicting a customer's needs, preferences, and habits. Anticipate new opportunities to sell, Deliver Better Service or even provide Targeted Marketing Campaigns such as instant delivery of coupons at the Point of Sale for products related to their interests as indicated by past behaviour, it also derives personalized customer experiences by detecting market opportunities and trends. In short, using BI Application, you can understand your customers very well, based on the historical transactions & behaviour, and use that information to increase your sales and differentiate your brand by providing better and unique services.

ebizframeBI tool for retail- Eastern Software Solutions

So, the ebizframeBI tool for retail collects and organizes your data and presents it in a way that is useful and makes sense to your business. So, you can anytime access Organized Data and check:

• Inefficient business processes and Hidden Patterns
• Identify areas of Strength and Weakness
• Discover new opportunities
• Optimize inventory with forecasting analytics
• Market Basket Analysis and many more…

All of this contributes to a better understanding of the company’s operations and challenges.

If you want to have access to Accurate, Understandable, and Actionable information on demand then ebizframeBI might be the right fit for your organization.

Let’s connect for a detailed demonstration at: marketing@essindia.com

Related Blog : ebizframeBI- Enhance Customer Loyalty For Your Retail Business