Leveraging Data to Create Opportunity
In the age of instant information, retailers must adopt and embrace technologies that will allow them to gain, retain and evaluate key information on a monthly, weekly, daily and even an hourly basis. As business decisions and processes are now more than ever determined by the ability to gather and analyze data, it is imperative that retailers implement processes that allow them to gain insight into every aspect of their business in order to remain competitive in today’s marketplace.
Gaining intelligence and knowledge through an Integrated Retail Management System is the driving factor that sets retailers apart from one another. Implementing an Integrated Retail Management System such as ChainDrive allows retailers to capture data across all channels which enable them to better plan and determine their cross-channel strategies and allows them to focus on ultimately making smarter business decisions.
Today’s retailer must ask themselves;
Does my current system allow me to retain valuable data?
Does my current system capture data across all of my retail channels?
Am I able to access and gain instant visibility into every aspect of my business?
Is my business suffering due to lack of insight?
With ChainDrive Integrated Retail Management Solution, retailers are able to gain real-time visibility into data such as;
- Merchandise performance such as product demand, assortments and price and promotions
that allow retailers to forecast and optimize their inventory mix accordingly
- Customer desires and expectations – identifying best customers and factors
determining loyalty and trends
- Store performance – current store status, store- to- store and historical comparisons
If retailers don’t embrace emerging technologies and consider adopting an Integrated Retail Management System such as ChainDrive that enables them to leverage data to create opportunity, they will find themselves missing out on their true growth and prosperity potential.