Retail industry is hyper customer focused and thus have a more matured sales and marketing model. However in the new mobile and social era the shopping dynamics have changed with macro societal changes in shopper composition, attitude, and empowerment. Customers are becoming more demanding and less loyal. Consumers can visit a store to see the merchandise and use their mobile phone to compare prices, and buy from the lowest-cost provider either online or offline. Lowest price, online reviews, satisfaction ratings have become the benchmark of the shoppers in the social era. Whether it is a Supermarket, Convenience store or Drug Store the challenge remains the same. How to convert a visitor to a shopper and then to a buyer.
To survive and grow retailers need to build programs using tomorrow's technology that position themselves for sustained growth by implementing a process that routinely translates their data into shopper intimacy and then drives this knowledge throughout their organizations. Important KPIs such as sales volumes, item counts, average unit price, dollars per square foot, sales area per square foot, comparative store sales, same store sales year on year, overall gross margins does not hold any value anymore if they are not provided in real time or near real time accessible from anywhere on any device. Retailers such as supercenters, drugstores, convenience stores, auto parts retailers, building centers, consumer electronics, phone stores, and many other retailers or products are trying to find more innovative ways to monetize from answers to questions such as what shoppers actually did in the store, what they looked at, how they moved through the store, and what they bought.
Traditional business intelligence cannot stand up to the power of present-day consumer habits. The best way to jump on the offensive is the adoption of real-time insights and reporting that empower decision makers to succeed. Competitive advantage begins when an enterprise approaches its massive troves of data and fuses it with analytic capabilities to impact margins, streamline inventory stocking and increase sales.
Scalable Systems approach to business intelligence and data management solutions is based on a sophisticated retail analytics platform that can work cohesively with legacy systems to truly spur operational efficiencies and increase profits. Data should not be a burden for an enterprise. Through a strategic reinterpretation of how an enterprise uses data, time will be saved and profits will be gained. By using tomorrow's technology Scalable Systems can help retailers to position themselves to serve targeted customer's needs better than the competitors. With next generation analytics and IT services we can help to better segment targeted shoppers and uniquely design sales and marketing targeted for different customer segments.
The retail market is experiencing unprecedented change and a very tough consumer environment.Â Fortuitously, retailers are collecting and storing more data than at any time in history. By mastering their supply chain, optimizing pricing, understanding customers, and ultimately selling stuff. As retailers mushroom in size, format, and scope, success will increasingly rely on timely, insightful decisions to do these things exceedingly well.
Those companies that successfully leverage the intelligence hidden in their data will make better pricing and product decisions and also optimize sales and marketing activities and inventory acquisition and allocation.Â The result will be that they will outperform their peers in the areas of revenue growth, costs management and delivering shareholder value.
Scalable Systems' IntelliShopper is a comprehensive business intelligence solution that helps retailers analyzes their business performance from the store to the supply chain. The rich and intuitive mobile analytics can enable retail business to not just process the data but extract knowledge.
IntelliShopper can bring in improved SKU profitability using product analysis, facilitates identification of consumer affinity and elasticity using customer analysis and provides better understanding of the consumer shopping behavior through market basket analysis.
IntelliShopper can help retailer leverage the intelligence hidden in their data to make better pricing and product decisions and also optimize sales and marketing activities and inventory acquisition and allocation to facilitate to outperform their peers in the areas of revenue growth, costs management and delivering shareholder value.
Mobility has given an advanced shift to the shopping behavior of the consumer. Today's consumers believe in making informed choices. And with mobile devices becoming the research and shop-around gadget for consumers; retailers of all size are left with few choices - to embrace the mobile technology or play catch-up in the years to come. Well planned retail mobility solutions has the potential to, boost customer engagement, aid in brand-building as well as drive traffic to the stores and accentuate the shopping experience.
Our services offerings in the Retail space looks at workforce efficiency, operational excellence and giving the users to access real-time information anytime, anywhere. Decision makers on the other hand can have access to all the analysis done and delivered to make quick & meaningful decisions to expand the business horizon.
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Enterprise Data Management
Marketing and advertising have fundamentally changed in recent years. Social media is now the number one source of new information, and consumers are frequently utilizing Facebook, Twitter and Tumblr to share opinions and post productreviews. Up until recently, brands have approached social media with tunnel vision, failing to realize its true potential for increasing sales and retaining customer loyalty.
Multi-channel and direct-to-consumer marketing is the future, and analytics combined with data management allow for valuable insights into the actions of consumers, buyers, marketers and enterprise personnel. Deeper insights regarding backorders, overstocked inventory, returns and customer demand will empower sales associates and executives to maintain customer relationships and infuse their voices into social web chatter. Through a beautifully visualized dashboard it is easy to view insights pertaining to demand as well KPIs and additional metrics.
Real-time insights into product successes and failures will revolutionize product launches and development. It is also now possible to track customer sentiment and even anticipate their response to products through predictive analytics. Focus groups have evolved into real-life experiments where brands can introduce products and track the progress of their market acceptance.
Our enterprise data integration services can help retailers to integrate, consolidate and create master data from various data sources such as syndicated data, in-store studies, transactional data, loyalty programs, credit cards etc..
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Enterprise Business intelligence
ScalableSystems' merchandise analytics solutions place profound knowledge in the hand of employees throughout an enterprise. Management and associates alike will benefit from increased knowledge regarding last season's sales performance, inventory stock, stores in need of specific products, and even monitored customer sentiment. All this information and more is increasingly accessible through mobile devices and traditional PCs.
Our retail solutions use innovative dashboards and visualizations of real-time enterprise information to empower team members to increase inventory productivity, generate sales and spur efficient problem solving. Retail applications that utilize merchandise analytics will provide in-depth summaries of KPIs regarding specific departments as well as providing visual interpretations of sales, productivity and forecasts regarding specific vendors and individual products.
Seamless access to vital information is the key to successful retail merchandising. Executives and sales associates alike will have the power to view detailed insights that can optimize their everyday operations. Whether during an online meeting with participants across the country or during a sales interaction at a local retail outlet, ScalableSystems' retail analytics and data management solutions will prepare an enterprise for newfound success and growth.
To learn more about our Enterprise Business Intelligence services please click here