How To Communicate Retail Analytics
One of the realities of any business is the need to communicate within the organization. This is true of retail analytics, too. Software that is designed to make both analysis and communication optimal equips a business to function effectively.
Accurate Analysis
The analyst has to be equipped to “analyze intelligently” so their conclusions are accurate. Access to the full body of data is important, but the ability to isolate and compare specific data is what makes analysis accurate. Both historical and real-time data across the spectrum of the business need to be available in the format necessary for the task.
Comprehensive Communication
When in a meeting, the analyst has become very familiar with the information and has a frame of reference to place that information in context. Those who are drawn to analyst positions tend to see the world in a certain way but business operations are not made up of one type of thinker.
The most effective businesses have learned to utilize all the talent on their teams by including every type of thinker, from the analytic number lover to the go-with-your-gut creative. Communicating within a business means getting your message across by more than one method so that all these great minds can meet and work together.
The user-definable data views in ChainDrive’s Retail Analytics Software allow those who present information to portray their findings in several different ways. Dashboards, graphs, pivots, or drillable lists are helpful tools for analysis but these are also helpful tools for communication.
Decision-makers must have a clear understanding of the analyst’s conclusions and confidence in the process of analysis.Some people need to see the graph before the numbers make sense. Others need to be able to ask a question and see the pertinent information. Custom reports in the formats and colors that communicate enable meetings to be productive because information can be presented effectively.