More and more companies are putting stock in retail analytics, the act of studying customer data and the way buyers behave, both in-store and before purchase. Retail analytics provide an opportunity to better understand consumers and can help forge a path toward more predictable sales and marketing tactics.
We put together a list of companies who are bringing exciting new ideas to the world of retail analytics. With their ingenuity and software solutions, retailers are more effectively marketing to their audiences and, as a result, are seeing more sales and more growth.
Dor rhymes with door, and that’s no coincidence. The Dor device is a “thermal-sensing people counter,” using the body heat we all naturally put off to gather an estimate of how many people are in a retail store at any given time.
The sensor itself captures the body heat data, but the Dor software platform is where the real power lies.
Using the data gathered by the Dor device, you can get a better sense of how effective your retail marketing is and where you should focus both your marketing and labor efforts going forward.
Analytics is all about using data to help you make better decisions. In Celect’s case, the data being analyzed is sales data, and the resulting benefit you see is a more efficient inventory management process.
Celect looks at your current inventory and tries to understand which products are in demand and which aren’t as popular, and then optimizes your inventory to order more popular products and less niche items. When you have more of what people want, you sell more, and that’s the goal, right?
Key data can be extracted from consumer data, particularly if that data can combine both a consumer’s action on your marketing initiatives and how they led to a purchase.
Zaius is built to combine a number of useful channels, bringing together marketing automation, customer analytics, and customer relationship management into a single platform.
Using Zaius, retailers can learn more about how their customers shop and which marketing campaigns are most effective so stores can create more repeat buyers.
What are the cameras at your retail location doing? Chances are, you have an array set up simply for surveillance purposes. They’re there for security and nothing else.
Prism Skylabs wants to put those cameras to work for a far greater purpose: pulling out the valuable business intelligence hidden within the footage they capture.
Prism’s platform works with your existing cameras, using machine learning to identify problems with your location and offer suggestions for how they can be fixed.
Prism believes “Your cameras can do so much more,” and with its business intelligence platform, they can.
When you tailor your presentation to specific customers and offer them a personalized experience, you’re far more likely to convert a sale than if you show them the same things everyone else is seeing.
That’s the philosophy behind Clutch, which brings all of the data you have on your customers into its platform and helps you “deliver personalized, motivating experiences.”
With Clutch, you can do this across multiple channels, personalizing the in-store experience, your website, email marketing campaigns, social media outreach, and more.
Understanding customer demand is crucial to providing the products they want and, as a result, growing your retail business. Retail Solutions exists to help retailers identify their problems by tracking the analytics around inventory, promotions, distribution, and sales.
Using the data within, retailers can better grasp the needs and wants of their target audience and shape their stock around meeting them.
And because the Retail Solutions platform ties all those data channels together, retailers can see which ones are adding the most to their success and where they need to step in and fix things.
Can you collect analytics around retail assets? With Estimote, the answer is an absolute yes.
The Estimote platform promises “The Physical World. Software-defined.” It’s an application programming interface (API) capable of taking actions tied to physical objects in the real world and creating digital events based on what happens with them.
And Estimote is partnering with some pretty big names to put its technology to work not just retail locations. The Guggenheim Museum in New York is one such partner, as is FC Barcelona’s well-known Camp Nou stadium.
Retail data can mean the difference between sales success and closing up shop — especially in what is becoming an increasingly competitive business world.
Engage3 collects important retail data through the use of “on-the-ground” consumers who are able to complete store audits for locations where an impartial, third-party is needed.
Using an Engage3 auditor, stores can get a better handle on a host of data for their various locations, including pricing, product positioning, the ease of locating a particular product, and more. And Engage3 doesn’t just help with physical stores — it also provides auditors for online stores and call centers, as well.
Rubikloud provides retailers with a number of different products designed around the collection and analysis of consumer data, as well as the management of retail promotions.
The company’s LifeCycle Manager uses machine learning technology to understand consumer behavior and give retailers a picture into who is buying their products and how those buyers behave.
Promotion Manager also utilizes machine learning — this time to offer predictions for retail businesses and help them better plan out their promotions and forecast their effectiveness.