How Much Is Retail Technology Worth?
There are a lot of exciting developments in the world of retail technology. But in order to get the most out of that technology, your business needs to be selective about which things are “cutting edge” and which things are “bleeding edge”. Cutting edge technology can provide the latest in retail analytics and functionality, a boost to every aspect of your enterprise. Bleeding edge, on the other hand, just drains resources without adding to assets by performing as promised.
Invest In Analytics First
Cutting edge analytics software can give retailers an accurate assessment of what has happened historically in all channels of the business, and add real-time data to integrate a complete picture for predictive planning that works. Without the analysis, there can be no intelligent assessment of which technologies will be beneficial for the business. Analytic software should allow several ways to look at key business information:
- access historical, current, and comparative views
- utilize all business and operational data
- highlight KPIs and focal points according to your priorities
- user-defined data views for customized reports or visuals
- dashboards for intuitive operability
- reports issued in formats you configure for your specific needs
The more customized an analytics software package can be, the better able it is to be exactly what is needed to have a clear understanding of where all the pain points are and why those areas are pain points in the operation of your business. Once the problems are clarified and defined, steps can be taken to research technology that could resolve the issues.
ChainDrive Retail Analytics offers both the technology and the support needed to make retail management an integrated, fully-functional part of a profitable business.