Retail Analytics

Degree of Sensitivity towards Retail Analytics can make a difference!

Description

Recently a study has been published which highlights the importance of Retail Analytics in today’s retail scenario. It emphasizes that analytics plays a pivotal role in the decision making and differentiate between an opportunity won and opportunity lost.

The report highlights the following important points:

>The Successful Retailers make decisions on the basis of real-time data and reports while there are many retailers who still take the decisions on their past experience and intuitions

>Successful Retailers believe on being proactive, based on the analysis they have done on the consumer data rather than responding to consumer demands to model their own responses

>Successful Retailers consider money spend on workforce and IT tools for Analytics as an investment while stragglers who worry about money spend on analytics as an expenditure, end up in loosing opportunity due to lack of quality of output.

A good analytics tool, collectively with a good Retail ERP which can capture all the important data, will act as a feeder to Analytics tool, and thereby transforming a Retailer into a successful Retailer.

Ginesys Retail ERP covers all the important data points and capture the data which is important to be act as a input to a good Analytics tool such as QlikView.

To read the complete article please click on the link below

http://www.rsrresearch.com/research/retail-analytics-moves-to-the-frontline-benchmark-2014

Raman sharma | November 18th, 2014
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