The volume and diversity of data is steadily increasing, and as the retail market evolves, so does the demand for data processing. Managers need to make many decisions daily, and so there is a logical increase in demand for applications that can support their work appropriately. The U&Sluno Business Intelligence (BI) solution belongs to this segment – it is a business tool that can address this current challenge of all traders in a short time and provide a clear competitive advantage.
Preparing accurate and unifying reporting that takes multiple data sources across different systems is quite challenging without using a sophisticated tool. Both in terms of the work itself, the money, and the time employees spend on the evaluation. In addition, it is quite common that such a procedure leads to errors and misunderstandings due to different versions of output documents, which i.e. use different data or do not incorporate recent updates or corrections. Business Intelligence can effectively underpin these vulnerabilities in the process, relate information within the context, and identify links between individual situations that may arise in retail. Without a similar solution, active processing of larger amounts of data is much more complicated.
Analytics for Improved Business
BI analytical tools allow processing and evaluation of information from many different databases and sources, including Excel spreadsheets, turnover plans, and so on. The barrier of lengthy matching is thus dealt with and due to direct interconnection with individual data systems, the risk of inaccuracies is minimised at the same time. The results are well-arranged analyses and reports, whether standard for every day or in-depth, which can be used to predict further market developments or customer behaviour. The benefits for the retailer are clear, mainly the substantially lower costs needed for the analysis and hence faster and more efficient decision making.
The U&Sluno representative, BI consultant Karolína Bagierová, describes: “The main advantage is that you have all your data in one place, and you don't have to switch between several systems. If you want information on stocks, sales, loyalty events... Or you want to interlink this information, you have everything in one tool. You can filter the data, select different time periods, stores, assortment, and so on.” Another benefit of the tool is the ability to view data from multiple angles, by store, time development, or various assortment groups. The salesperson can easily compare data using selected indexes, as well as enjoy the opportunity to discover the consequences of the development of selected parameters. It is equally important that all employees involved always work with the same current data.
Analyses Prepared for you by BI Tool:
- Sales analysis
- Loyalty system customer analysis
- Graduation analysis
- Stock analysis
- Purchase analysis
Ready for Customers
The primary target group for which our Business Intelligence tool is intended are medium and large trading companies. On the other hand, virtually anyone can use the outputs that the system can prepare. Smaller customers may also like another form of cooperation, where, based on the data provided, we prepare only selected mini analyses (e.g. ABC analysis of articles based on sales), without the need to implement the tool.
In any case, the solution itself is very scalable and can be ranged from stand-alone reports to a robust BI tool that can be used by people in different areas, from purchasing to marketing department. “BI tools are live tools in the sense that there can always be a new requirement within the business, whether for evaluating data, a new process, or adding another resource. BI is able to respond to it”.
Business Intelligence is in many ways an essential support tool for business development. Accurate and up-to-date information is important for efficient pricing, better promotion design or product optimisation. After all, this is a prerequisite for the success in today's retail market. If you are interested in BI solutions, do not hesitate to contact us. You can find more information on our website: www.u-sluno.eu.
11. 3. 2020