What is Retail Analytics + How Can Your Business Implement It? olvin.com

What is retail analytics?

Retail analytics is the process by which we can use analytical tools to enable us to analyze business patterns, performance levels and business trends, with a focus upon the retail industry. By sourcing the relevant data and managing it effectively a business can gain great insight into their customers and improve upon crucial factors such as optimizing store layouts, greater customer experience and increasing profits.

What are the benefits of retail analytics?

Customer Journey Insight

Through effective implementation of analytics across a business’ channels, we can gain insight into a consumer’s behavior right across the purchasing journey. This can highlight areas to improve upon, such as offers and possible optimizations, allowing for increased purchases maximizing revenue.