Retail Business Intelligence

BI / BA class systems allow you to get the full picture of the retail network, find patterns in huge data sets, analyze trends and optimize the company's work. At the same time, the role of the so-called "big data" is growing in retail today - huge arrays of unstructured information, of which, if the necessary technologies are available, the most valuable information for business can be distinguished.

Therefore, a specialized business analytics solution for retail, which takes into account the features of "big data" and the main performance indicators of retailers, is preferable to a universal business analytics system, which, with each implementation, requires quite complex and lengthy improvements for the needs of a particular company.

On the other hand, today's reporting tools should be fast, easy to use, with a graphical interface that can adapt to any device. “Organizations should be able to develop and deliver content to mobile devices interactively and take advantage of their own mobile device capabilities, such as touch screen, location, cameras, etc.,” Gartner.

The tasks solved by the business analysis tool are divided in the following areas:

• analytical - the calculation of specified indicators and statistical characteristics of business activities based on information from databases;
• data visualization - a visual graphic and / or tabular representation of the available information;
• data mining - data analysis, data collection from various sources.

An industry-specific solution from Consulting for Retail, when analyzing the data and activities of the company, provides the retailer with features such as:

• the ability to go to any level of detail - from a "high-level picture" to a detailed level;
• user friendly interface, very easy to use;
• information tabs / windows, the ability to switch between indicators (operational analysis of information from a different angle, for different periods)$
• using various filters for the manager (application for both a single report and for all displayed panels on the monitor screen, switching between different units of measure - Sales price, Cost, SKU, etc.);
• the relationship of the dashboards when changing / analyzing under various cuts;
• Flexible search engine for reports, KPI, charts;
• Drill-down features in reports;
• Opportunities to share reports with colleagues;
• The flexibility to customize your supervisor panels;
• Export report data in various formats.

When using the tool in conjunction with Symphony GOLD products, the company gets the maximum effect and a set of pre-configured analytics templates (reports, KPI) in the following areas:

• sales channel and store operations;
• sales forecasting, planning and replenishment;
• supply chain and inventory;
• warehouse management.

The business analysis tool for the retailer from Consulting for Retail is:

• Web platform. availability of up-to-date analytics from all over the world, on any devices, with a single user interface;
• Big Data. oriented database. Using your own data warehouse;
• iOS and Android. Native mobile apps for all smartphones and tablets;
• All-in-One Platform. Pre-built dashboards, intelligence mode, self-service, publisher and alert mechanism;
• Integration - the consolidation of information from any source. Ability to import data from various sources;
• Open architecture. Ability to create / modify your own panels / reports / KPI;
• KPI in real time.

Not all business benefits can be digitized, there are intangible (immeasurable, qualitative) effects from the introduction of analysis tools, for example, such as improving the quality of management decisions, improving the efficiency of decision-making processes, increasing the speed and accuracy of reporting, analytics and planning. Such effects are typical for all classes of systems, but for BI / BA systems, these effects are basic.

The main advantages obtained by implementing a business analytics solution:

• More than 30% savings are achieved by reducing the time for calculating reporting indicators
• About 30% gives a reduction in the cost of preparing analytical transcripts and details
• More than a quarter reduced costs for harmonizing reporting indicators and correcting errors
• Presentation of various “slices” of information necessary for managers working in different departments
• The ability to generate a wide range of analytical reports, for any period of time, with a deep level of detail
• Comprehensive analysis of information in real time from various data sources
• Real-time control of the company’s work, reduction of time for analysis of key performance indicators
• Improving the reliability of analytical data
• Timely response to changing market conditions.