Gain Actionable Insights on Customer Behavior, Sales, Inventory, and More!
Retail organizations need to make swift decisions, BI dashboards and reports can assist by consolidating data from various sources and uncovering insights on sales, inventory, and customer behavior.
Why Retailers are embracing advanced customer and business insights
- User-friendly and less daunting than spreadsheets
- Customizable to display only relevant data
- Enables stakeholders to track essential retail KPIs in a single location
- Facilitates informed decision-making based on real data instead of assumptions
- Updates in real-time with the latest data feed from the CRM, Inventory management or POS transactions, saving time
Ways Diaspark’s Data and BI Experts are helping Retailers
Online Store Performance and Health Dashboards
the Online Store Monitor provides a comprehensive set of dashboards to help online stores monitor and optimize their functionality, performance, marketing efforts, and customer service. By utilizing these dashboards, businesses can make informed decisions, address issues promptly, and work towards improving their financial health and overall success.
- The dashboard focuses on metrics that help an e-commerce operation thrive and stay financially healthy.
- The dashboard zooms out from critical survival metrics and emphasizes metrics that track progress toward meeting targets, sales growth, and product performance.
- The dashboard helps e-commerce businesses track their performance over time, identify trends and patterns, and make data-driven decisions to improve their financial health and grow their business
- The dashboard focuses on metrics related to driving traffic to an online store and improving its bottom line.
- The dashboard covers various marketing channels such as paid search, display ads, email campaigns, and social media marketing.
- This dashboard helps e-commerce businesses track the effectiveness of their marketing efforts, identify areas for improvement, and optimize their marketing strategies to drive more traffic and revenue to their online store.
- The dashboard is crucial for online stores that prioritize customer experience and deliver exceptional service.
- The dashboard focuses on core metrics such as CSAT (Customer Satisfaction) and ticket volumes to ensure the customer support team provides excellent service and leaves customers satisfied.
- The dashboard helps online stores keep high service standards, address customer support issues proactively, and ensure customers’ needs are met as soon as possible.
Dashboard features and KPIs
Efficient inventory management is crucial for any business, and multi-channel and multi-store inventory monitoring is a critical aspect of it. Inventory analytics, inventory investment analytics, demand forecasting, and what-if inventory scenarios can be employed to optimize inventory stock levels, profitability, and purchasing decisions. Personalized Power BI dashboards and reports can help businesses monitor and analyze all these aspects of inventory management effectively.
- Keep track of inventory on hand, low-stock inventory, inventory location, days sales of inventory, inventory discrepancy, aged inventory, and more, with drill-down capabilities.
- Inventory analytics based on historical sales data, forecasted demand, average lead time, weather conditions, and other factors to define optimal inventory stock levels and SKU-level minimum and maximum quantity thresholds for each product category
- Inventory investment analytics to calculate the average inventory turnover ratio for each brand, category, and SKU, and perform gross/net inventory profitability analysis
- Demand forecasting for brand/product/SKU and across sales channels and store locations based on identified demand patterns for each store or customer segment, promotional uplift, price elasticity, seasonality, product cannibalization, competitors’ activity, and more
- What-if inventory scenarios to outline various inventory purchasing, replenishment, allocation and transfer plans in case of supply disruptions, rush orders, inventory out-of-stock/overstock, etc.
Customer Analysis Dashboard
A customer analytics dashboard provides businesses with a comprehensive view of their customer behavior and enables them to make data-driven decisions to enhance their customer engagement and drive growth. They can segment their customer base, model customer behavior, and identify patterns that lead to churn. By leveraging the insights provided by a customer analytics dashboard, businesses can optimize their marketing strategies, improve customer experiences, and ultimately increase revenue.
- Analysis of customer buying frequency and engagement across different sales channels
- Customer segmentation analytics to understand existing customer segments, their share in the chain/store, and their average basket composition
- Customer attrition analysis to identify patterns leading to churn
- Customer behavior modeling to predict behavior patterns such as converting, churning, and spending more/less
- Customer satisfaction and loyalty analysis
- Customer profitability analysis to calculate customer lifetime value, cost per acquisition, cost per lead, return on ad spend, and return on new customers
- Customer retention analysis to understand customer renewal rate and retention costs
- Leveraging customer analytics dashboards to gain insights and make informed decisions to optimize customer engagement and drive growth
Optimize your inventory management, drive profitability, forecast demand, and make data-driven decisions with personalized dashboards
- Need assessment and BI strategy formulation
- Designing a tailored BI solution that meets specific business requirements.
- BI Tool Selection
- Defining KPIs
- Designing – implementation & user adoption plan
- Development and implementation of all components
- QA of created solution
- User Training
- Continued Support and evolution of Data Analytics strategy
Areas we help with BI and Data Services
BENEFITS OF BI IN RETAIL
How Diaspark contributes to the digital transformation of the retail industry?
Diaspark has been helping retail businesses for over two decades as partners in their digital transformation journey. Our team of experts have helped leading retailers in unlocking full potential of their data.
Our team can help you assess your retail business requirements and create a data-driven plan to effectively implement and utilize Power BI.
We specialize in developing customized Power BI applications and have a team skilled in working with various technologies, from legacy frameworks to modern Power BI.
We are recognized for our exceptional Power BI dashboard development and expertise in Power BI service setups and gateways.
With over 100 Power BI implementation and development projects under our belt, we have established high standards for our Power BI consulting and development services.