Retail is changing at a very rapid pace, with online shopping being the biggest catalyst across the globe. In today's market, retailers continue to focus heavily on motivating customers to act. In a rapidly evolving digital world, where the customer is in charge, accomplishing the objective, whether through customer engagement, inventory strategies, marketing, or other can become more challenging.
Currently, retailers are challenged with finding opportunities to increase revenue or deliver efficiencies, presenting and understanding data in a way that reveals value, and gaining insights from data quickly, so they can make the right decisions in the right time frame. The biggest obstacles along the way of retailers are latency in data, inability of frontline workers to interact with data.
Embarking a new data visualization journey requires understanding the terrain. Retailers can gain a deeper understanding of customer behaviour, product trends, store-specific performance, and many other factors by enhancing data visualization tools.
In addition, retailers can achieve modern needs such as enhancing inventory visibility, improving merchandising competitive positioning, and analyzing the effectiveness of omnichannel marketing through data visualization. A user-friendly data visualization tool allows you to work with large data more frequently, to solve retail challenges in an effective way.
Fig. Retail KPI Dashboard
The Innovation Factory provides great accessibility, visibility, and insights into the data by combining them and grouping them into a single location. It enables sharing dashboards to everyone in the company, which gives clear information into business essentials. It is easier for Innovation Factory to collect, transform, and analyze big data that is produced by retail stores with the help of power business intelligence.
Powered by Click2Cloud's Innovation Factory provides clean and interactive dashboards that can be used to garner insights and gain business value. It helps retailers to give a comprehensive perspective on the economy and consumers, helping them bridge the supply-demand gap.
The retail dashboards from Innovation Factory possess the power to bring actionable insights to life. Consider Innovation Factory dashboards if you have no idea how you can be most efficient with your retail data. Apart from retail operations, you can use Innovation Factory dashboards for performing different tasks.