Using Retail Analytics software to pinpoint concerns
Operating in a retail environment means that you’re looking to keep your numbers up in all areas. You want big numbers in profit, in customers, in products, in sales. There are various ways of looking at this kind of data and seeing how everything stacks up, and perhaps most importantly, how you’re faring in comparison with competitors in the market. Retail management software offers great accounting and budgeting components to help you understand and share this type of information. But what happens when there’s a change? Let’s say you’ve noticed a dip in overall sales, or in the success of a certain product. Or maybe one of your locations is suddenly not performing as well as it has been. It can be extremely difficult to pinpoint what’s going wrong in these types of situations, especially when you have a lot of data to sift through. Retailers using analytics software can pinpoint the problems. ChainDrive Retail Analytics software is designed to give you a clear look at each area of your business.
Its robust built-in business intelligence tools offers you a leg up on the competitor. What’s more, the system is extremely customizable and you can look at data in all sorts of ways. Some of these include pull-down lists, queries, pivots, drill downs, and graph data in many varieties. The integrated sets of reports and tools will show you data in any range of dates or areas that you can select from to help you narrow down what’s going on. If you find out that a drop in profit started on a certain day, you can look at that day’s data, see if anything happened within the store, or if a new competitor opened up.
The result from pinpointing this type of information is enhanced and more well-informed decision making. Instead of taking shots in the dark in an attempt to boost your success, retailers using analytics software can make decisions that are based on exactly what the issue was and how it’s best handled. It’s one of the most useful components of our retail management software package. Consider it for your business today!
