For retailers, data plays a key role in the decision making process and can help savvy retailers improve customer experience and improve operational efficiency while maximising ROI. Understanding your data is fast becoming a differential between successful retailers and those falling behind the competition.
Become A Data Driven Retailer →A deeper understanding of who your customers are allows you to run highly targeted campaigns that reach the right demographic, in the correct location, for each product. On the supply side, data provides an understanding of demand levels, allowing you to forecast more accurately, implement dynamic pricing and better supply chain optimisation, and avoid overstocking.
Let’s take a look at some of the ways you can become a more data-driven retailer.
“What we like about working with CTS is the ‘nothing’s too much trouble’ mentality. They never shied away from giving us a hand when we need them.”
Graeme Hendry, Service Delivery Manager
Improving the speed and accuracy of demand forecasting for products and services is critical to retail success. With accurate and reliable demand forecasting in place you can:
A dynamic pricing strategy lets businesses set flexible prices for their products and services based on market demands. In conjunction with demand forecasting, a dynamic pricing model can help to:
Unified analytics brings together all your disparate data sets into a centralised repository which acts as a single source of truth for your organisation’s data. This helps you:
Download: How To Become A Data Driven Retailer →
Connect data across the whole supply chain in one place to create end-to-end visibility. With advanced analytics, real-time intelligence and actionable insights, you can:
A modernised infrastructure is a must in today’s retail environment. Legacy systems simply won’t cut it. Slow, disparate systems prevent data from being used to inform decisions, leading to missed sales, depleted revenue and unhappy customers who turn to your competitors for comfort.
Migrating disparate legacy systems into the cloud where data can be centralised will help you:
We’re here to help you get the most out of your data and in doing so, allow your teams to make smarter decisions to drive your business forward. With Google Cloud technology, retailers can derive real insights for business transformation from customer and product data.
Download the insightful Google eBook today and learn how to improve customer acquisition and retention, drive better merchandising and assortment decisions and run operations and supply chains more efficiently.
Download: How To Become A Data Driven Retailer →
