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Retail Analytics

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Retail Analytics

From small, temporary kiosks all the way up to large malls and concert venues, Footfall counting cameras counts visitors to your space using traditional traffic counting devices at entrances. Our major solutions are Shopper Analytics, Customer Engagement and Professional Services From understanding sale slumps to deciding on strategies that will likely push revenue through the roof, data helps to explain why certain actions and events take place in the world of retail. Yet, analysing data itself isn’t enough. It’s vital to have the right data from the start.

Approximately 90 per cent of the world’s data today was generated within the last decade, and at a rate of 2.5 quintillion bytes per minute, that’s a ton of data to analyse. So much data creates a heavy load, or “data dump.” This data dump makes it difficult for most retailers to make sense of consumer behaviour. But, all data is not created equal. It’s vital for retailers to leverage the right data and analytical platforms to enhance planning and make smarter decisions. Thanks to social media, location information, connected devices and other technology, there are tons more sets of data to mine. But what is the right data? It essentially boils down to the information that your enterprise requires to understand your customers or potential audience, and drive specific decisions.

Your Retail Business

Retailers in different businesses define the right data in different ways. For example, a retailer in the fashion industry requires data that unlocks purchase history, spending power, interests, purchase frequency, competitor store visitation etc. A mix of first-party data and offline consumer location with context will help fashion retailers get the answers they are looking for. The automotive industry may include return per vehicle and defective unit rates to the above and may have store conversion as a number they want to track. For a supermarket, the SKU volume is of importance and they would like to measure impact of promotional sales on inventory movement to capture ROI.

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