Retail businesses can become efficient and change-ready by using insightful data to drive decisions. This data can be derived from spending trends of customers, competitive pricing, catalogue and industry diversification, supply chain management, inventory management, product and brand positioning, and competitor analysis. Data can also be generated from customer service and payment gateways, which gives a bird’s eye view of the challenges faced.
For retailers, customer footfall governs conversion rates and thereby profits and growth. Footfall count will also provide data to analyze purchase trends, demography of customers, average purchase sizes, and many other critical parameters. The volume of such data will be high and would require a lot of time and effort to collect, validate, and share with analysts. Moreover, the data collected might not give an accurate picture due to various discrepancies that might creep in during gathering, validating and sharing it.
In recent years, social media plays an important role in the way business is conducted. Customers are now either looking for information or sharing their experience via social media even before they make a purchase decision. The Infoveave™ Visual Analytics Studio is rightly positioned to address these challenges and vastly benefit retailers.
With the Infoveave, you can analyse simple to complex scenarios, correlate data from multiple data source types, allows users to access disparate datasets and create harmonized visualizations. Business data can be easily tapped into for deep dive analysis, multi dimensional analysis, statistical analysis and machine learning
Embed visualisations on your website, Share information on social media or simply through email. Annotate and add comments and send to specific audiences. Collaborate in near real time to take actionable business decisions.
Enable automation by connecting to real-time data
Infoveave can be configured to sync with connected assets and sensors and IOT devices capable of measuring, recording and transmitting data in real time. This allows for real time monitoring and assessment.
Ready in a few clicks
Smart combination of short setup times, quick connect to multiple structured and unstuctured datasources, and a easy to use user interface allows for to decipher complex data and convert them into actionable insights just a few clicks.
Harness the power of Infoveave on the cloud or on premise. Wherever your information may reside, Infoveave processes and presents business insights on demand, securely.
Average basket size
Store conversion rate
YoY sales growth
Profit per customer visit
Market share, customer growth rate
Average sales per sales executive
Sell through percentage
Top 10 best-selling types
Best-selling sizes in men & women
Peak trading hours
Weekday sales versus weekend sales