One of the best tools in retail analytics to grow exponentially

Retailer’s job is a very challenging one to say the least. As a retailer we wears many hats at a time. From deciding what to carry in merchandize, to planning campaigns for customer acquisition, measuring staff productivity and managing the financials. We are multi-tasking all the time. Add to that the never ending traveling schedules to make sure we get the best of stuffs to sell.

Such is the demand in this job that we seldom gets time to really sit and think if all’s well and whatever is done is really helping the business to grow or not. That opportunity comes only at the end of the year when we sit with the auditor to analyze the financials and when worms comes out of the can.
“This is not right, that is not working, that did not sale, and we are over staffed and what so and so on and on….”
Presently we have access to many different tools and reports to take decisions but as the saying goes “Too much information is no information” and we tend to get into “Paralysis by analysis mode” with so much of data with us.
At the end we do not really take informed decision but believe on our gut feel and make choices. Many a times we ignore methodologies as we are not trained to do so.
We at Mitigo Consulting believe that a retailer should take decisions on data that gives her the information on the overall wellbeing of her business. For the purpose we have designed the Retail HealthCheck Dashboard. It focuses on analyzing critical resources of retailing to name:
  1. Employees
  2. Store space
  3. Customers
  4. Inventory and
  5. Finance
Any retailer who can focus and track these critical resources can immediately know how their organization is doing and take corrective action.
Dashboard created by us makes use of various Key Performance Indicators critical to every resource mentioned above and gives us a bird’s eye view of the store performance compared to last year, last month or quarter depending on the time period we are analyzing.
Key Performance Indicators helps us define our targets in measurable terms and ensures we do not get distracted with enormous amount of data coming to us from various sources.
Visit us at https://www.mitigoconsulting.com/advanced-retail-analytics to know more and register for a free trial or share your thoughts with us at analytics@mitigoconsulting.com.

 

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