What Kind Of Retail Analysis Do You Do?
One of the many challenges of retail analysis is the way the individual analyst processes information. Since all analysis involves informational data, this makes the type of software you use very important. You need to be able to see key indicators, focal points, exceptions, overall performance measurements, and more. You also need to see the data in the level of detail necessary. You need to be able to compare historical data to real-time status. You need to see how all the data fits together. But most of all, you need to see this information in meaningful ways.
Intuitive and Flexible Views
Software with user-definable data views and the integration of a centralized database provides the intuitive, flexible views that you need. Every member of your team should be able to have the types of onscreen or printed information that works best for their comprehension. Some people need to see a graph to visualize the data. Others require active pivot and drill down capabilities.
Look for software that is designed to include dashboards and data views that are intuitive and flexible.
Reports When and How You Want Them
The software you use for analytics needs to offer limitless reports. These reports need to be in real time so that you have instant insight into key issues. This way you can respond to those issues as they unfold.
In addition to reports that can be generated whenever you need or want them, those reports need to be the way you want them.
Look for software that is designed to give you the ability to create your own reports with the data, format, and color you prefer. This way, all your analysts will have the information they need when they need it and how it is most meaningful.
Built-In Business Intelligence
Whatever kind of retail analysis you do, you need to get your information accurately and promptly. You cannot afford to wait for reports to be compiled and sent to a monthly meeting. You need to be able to collect, integrate, analyze, and present your key business information with confidence.
Look for retail analytics software that can centralize your data and integrate it, giving you views of all your financial and operational data from one end of the enterprise to the other.