Retail analytics explained

| October 31st, 2017

What is retail analytics? In a nutshell, retail data analytics turn the art of running a business into a science… …by gathering sales data, identifying trends, and presenting them in an easy-to-read format so you can make better business decisions

It all starts with retail software, like one of the dozens of point of sale systems profiled on Software Advicecom Every time you ring up, the software, generates valuable insights, such as customer purchase histories and profiles These profiles analyze customer demographics data for all purchases Analytics tools also help you identify the store’s most popular products

The software ties sales and inventory data together to pinpoint purchasing trends so you can adjust stock levels accordingly Most systems offer dashboards to make sense of all this information They turn data into easily consumable charts, tables and reports Get price quotes and customer reviews on popular retail systems right now by clicking on the Software Advice logo

 

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