Importance of Retail Data Analytics
Retail analytics technologies give you the information you need to understand client purchasing patterns and estimate and plan for future demand.
This information can then be used to decide how to price and market items or services to increase revenue and how to improve the supply chain.
Data Analytics Use Cases in Retail Industry
- Sales Forecast
- Trend Analytics
- Recommendation Systems
- Price Optimization
- Waste Management
- Inventory Management
- Location of New Stores
- Customer Sentiment Analysis
- Personalized Marketing
- Utilizing social media
- Fraud Detection
Increase Profits with Retail Analytics
Relying on intuition is no longer enough for success in the retail industry. Increase profits by utilizing mobile technology and large-scale retail analytics software on the fly.
- Quickly collect and visualize multi-faceted business data
- Access top-level and cross-channel sales analytics
- Explore person-to-person interactions to maximize profits
- Analyse the effects of your merchandising strategy
- Receive immediate notifications of irregularities and take action
Proof of Concept
In this new era of advanced analytics and big data, you are looking for analytical tools to harness the power of your data. It is really hard to make a decision on the selection of right analytics tools and partner. You need a tangible proof and a solid demonstration for what you are going to invest in: that’s why at LDU Business Services we are happy to create for you an individual proof of concept that will showcase the full potential of our services. It’s as easy as three steps, and will help you in your decision on whether we are a reliable partner suiting your expectations: based on a dataset of your choice that you will send us, we build a personalized data insight that you can test and show to your management or team.