The ongoing digitisation and widespread adoption of online shopping are informing how businesses make best use of their offline channels. Imagine brick-and-mortar stores being able to gather the same insights about customer behaviour that retailers gain from online shopping. This type of actionable data can empower retailers to create the optimum customer experience in their stores, while making a positive impact on revenue and boosting long-term growth strategy. The concept of delivering customers the right product in the right place has taken on a whole new dimension.
Collecting data about customers, including assessing behavior, has always been a part of the systematic analysis employed by businesses. Now the top players on the market are incorporating location intelligence into their strategic decision making to maximise in-store sales to complement their offline efforts. More and more stores are employing entrance and beam sensors, utilising purchase history and offering loyalty cards to enhance the customer experience.
Questions that have so far only been answered based on guesswork or simply going with a “gut feeling” can now be easily resolved thanks to location data. Finding a location for a new store, evaluating your branch network, identifying the purchasing potential of an area or being aware of competitor presence have all become much easier. And while location data is often employed to leverage the presence of retailers across the market as a whole, it is now also being used to improve the in-store customer experience.
Getting the customer into your store is the first success. But what’s even more important is the experience the customer has of your store. If you understand how customers interact with your store and the purchasing journey they go on, you can gain relevant insights which will help you to better organise your store layout and help you choose the right “mix” of products.
These are just some of the many insights that can be gained about in-store customer behavior via location intelligence. Factoring a smart location-based analytic solution into your decision making can be a game changer and crucial to your future success.
As a complement to your other business intelligence data, intuitive location intelligence software can open up new opportunities for growth. But data on its own is not enough. Knowing what to do with it is what counts. To really benefit from location analytics you need to first analyse and then act. The right location intelligence solution enables you to make use of a host of features, allowing you to define reports, work with logical data structures and visualise metrics using heat maps.
Right now this technology is being exploited by big business, but the trend has been set and even the smallest business are now coming on stream. Learn more here and see why you should be part of the ever-growing number of businesses availing of location intelligence.
It took almost three years of waiting before we could attend the second Datafest in Hradec Kralove, but now we can say it was definitely worth waiting. The event is organized by BizzTreat, a company specializing on advanced data processing and analytics, and attended by variety of business and data analysts, top- to mid- management of wide range of
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The ongoing digitisation and widespread adoption of online shopping are informing how businesses make best use of their offline channels. Imagine brick-and-mortar stores being able to gather the same insights about customer behaviour that retailers gain from online shopping. This type of actionable data can empower retailers to create the optimum c
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