{"id":5168,"date":"2019-10-08T16:07:11","date_gmt":"2019-10-08T14:07:11","guid":{"rendered":"https:\/\/www.digdash.com\/?p=5168"},"modified":"2019-12-26T12:03:50","modified_gmt":"2019-12-26T11:03:50","slug":"business-intelligence-retail","status":"publish","type":"post","link":"https:\/\/www.digdash.com\/en\/news-articles\/business-intelligence-bi\/business-intelligence-retail\/","title":{"rendered":"Retail: Why you need to adopt Business Intelligence"},"content":{"rendered":"

With the advent of digitalization, the retail<\/strong> sector has undergone major transformations in recent years. This phenomenon is synonymous with new opportunities, but also new challenges for companies in the sector. In particular, data has become a major issue<\/strong>. In order to take advantage of this, it is necessary to process and analyze a significant amount of data<\/strong>. Although this represents a colossal task, it can be overcome through the use of a suitable Business Intelligence solution.<\/p>\n

Use your data more efficiently with BI<\/h1>\n

Business Intelligence<\/strong> is a set of tools and methods that enable the collection and exchange of information between the various departments of a company (marketing, sales, etc.). It is of particular interest <\/span>in the retail sector <\/span><\/a><\/strong>where collecting and harmonizing data from a variety of sources can be a very complex task.<\/span><\/p>\n

Compile data from multiple sources<\/h2>\n

The Internet has pushed the retail world to evolve. No longer satisfied with only brick and mortar stores, brands have gradually turned to more multi-channel strategies<\/strong>. In recent years, sales channels have multiplied, from the adoption of e-commerce, to the digitization of points of sale, and the advent of click & collect. Data sources have experienced a parallel diversification.<\/strong><\/p>\n

In this context, data is particularly complex to collect, as well as decrypt and synthesize. Hence, the need for an agile and powerful Business Intelligence tool capable of gathering and making sense of data. By harnessing data visualization, a BI solution is able to generate a dynamic dashboard\u00a0<\/span><\/strong><\/a>, offering a clear and precise look at a company’s performance indicators.<\/p>\n

As a performance lever and a decision-making tool<\/strong> in its own right, this dashboard makes it possible to take stock of the situation of a company, a point of sale, or a project at any given moment. More than a visual representation, it helps you anticipate the future by analyzing data from the past.<\/p>\n

Measure and Share your KPIs<\/h2>\n

There are a great number and variety of key performance indicators<\/strong> (also called KPIs) in the retail sector; this, along with the multiplicity of points of sale, makes monitoring KPIs a challenge. Fortunately, with the help of both a dashboard and analytical tools, these KPIs can be managed precisely either using an overall approach, or by geographical area, store, product type, or sales channel.<\/p>\n

This provides both small and large scale views of all key indicators<\/strong>: Turnover, profit, cash flow, foot traffic (number of customers in a store during a given period), and peak hours. More specific KPIs can also be analyzed precisely, whether they are related to marketing (effectiveness of promotions or communication campaigns for example) or e-commerce (website traffic intensity, etc.)<\/p>\n

A good dashboard also makes it possible to set objectives<\/strong> by period or zone, and to check at a glance if these objectives have been met. It is also possible to make comparisons<\/strong> between several months of a given year or between different stores, all this using clear and precise graphics.<\/span><\/strong><\/a>
\nBut the other challenge of Business Intelligence is the smooth transmission of information<\/strong> within a company. Thus, in order for a BI solution to be truly adopted by collaborators from a variety of departments, it has to be not only powerful, but also accessible and intuitive.<\/strong> Another advantage of Dataviz<\/strong> is that it presents data in a readable and entertaining way, which makes it easy for actors to share and understand.<\/p>\n

Our customers’ testimonials<\/span><\/h3>\n

“The deployment of DigDash was very fast: The tool is easy to learn and user-friendly. […] Everyone speaks the same language and uses the same data. This allows us to obtain consistent figures throughout the company and to increase the reliability of our statistics.”
\n<\/em><\/p>\n

Pierre Gruffaz, Chief Information Officer, Fournier Habitat Group<\/p>\n

The Fournier Group | Real-time strategic indicators for all its brands<\/a><\/p><\/blockquote>\n