Retail analytics is the practice of gathering data about your business, providing data and insight into every aspect of how it operates, such as inventory levels, supply chain movement, consumer demand, sales and much more besides.
The metrics retail analytics can help you to measure include:
Brands that work with Irisys use retail analytics to analyse data from a wide range of sources, helping them to develop a more comprehensive understanding of what their customer-base looks like, what they're looking for and how better to marketing to them.
When implemented and utilised correctly, retail analysis goes a long way to shaping marketing and operational strategies, helping to inform key business decisions.
Even the best management teams rely on good quality information to answer their questions, for example:
With convenience and customer experience now being considered just as important as price, if not more so, answering these questions could be the difference between growth and stagnation. The use of retail analytics technology also allows areas for siginificant operational savings to be identified, as well as new business opportunities.
Achieve operational excellence through expert retail analytics.
Check out how Irisys thermal technology and retail analytics helped Tesco to deliver the best service possible for their customers at the checkouts.