Retail Analytics or Magical Thinking?
It may seem odd to combine magical thinking and retail analytics but many managers do this without realizing it. It happens when insufficient data and inadequate tools are being used to make business decisions. If you can’t be confident you have all your business information and you don’t have efficient software tools to evaluate what you do have, all you can do is add a little sparkly magic dust to it and hope for the best.
Comprehensive Database or Insufficient Information?
ChainDrive is designed with built-in business intelligence. That means the technology is there to collect all the information your business generates across every channel and from one end of the operation to the other. Most of that data is collected automatically at key points like your Point of Sale. All of the data is stored in the secure, centralized database.
Having a comprehensive database means all of the information is available for analysis. You can compare historical information with real-time updates and access any other pertinent details for a complete picture of what is happening. Without all the information, your analysis is insufficient and your business suffers.
Professional Software or Inadequate Tools?
Professional software like ChainDrive has to meet high standards before being made available to clients. This means experienced retailers had a hand in the original design and that all the requests of subsequent clients were evaluated to see if that feature should be included in the suite. As the retail industry has changed, ChainDrive has kept up with the pace and maintained those high standards even as the benchmark has moved with the industry.
Sophisticated functionality like data mining helps retail managers by providing the tools necessary to figure out what to look at and which details may be a factor in a problem. Because ChainDrive has a professional support team, figuring out how to use all the tools in the Retail Analytics module is a phone call away no matter what time the questions come up. ChainDrive Client Care is available 24/7, 7 days a week, 365 days a year.
If your retail analytics is relying on the tools you used in the beginning, there’s a good chance those tools are inadequate for the industry today. Instead of hoping that some sparkly magical thinking will make up for it, consider the professional Retail Analytics component in the ChainDrive Integrated Retail Management solution.