Retail Azerbaijan

Retail Analyst

Today, retail businesses have enormous opportunities for data collection. Managers can evaluate not only overall performance but also the customer experience, the results of individual marketing campaigns, the accuracy of inventory management, purchase volumes, and staffing structures, as well as monitor settlements with business partners. However, in reality, the vast majority of these opportunities are being missed. The main challenge facing modern retail analytics is the sheer volume of data, which requires high-quality processing and presentation to users in a user-friendly format. Under these conditions, businesses need to:

• Аccelerate information processing. Preparing reports takes too much time, yet a wide range of users—from marketers to the procurement department—rely on them. Furthermore, for different user groups, these reports must be compiled with varying levels of detail. Under these conditions, less time is spent on actual analysis than is necessary.
• Expand opportunities for data analysis. Instead of static reports showing general trends, dynamic reports should be used, allowing for quick changes to specific criteria for grouping metrics.
• Work with a broad range of information that allows not only for analyzing results but also for identifying the cause-and-effect relationships between trends and phenomena occurring in the business.

Modern BI-based software opens up new possibilities for retail analytics. These preconfigured modules are built not only on the latest technologies—which enable efficient report generation—but also on the valuable experience of hundreds of companies that have successfully achieved their goals by developing and implementing such applications.

What are the capabilities of BI technologies in the field of retail analytics?

This solution, designed specifically for retail businesses, takes into account the key metrics used in this industry, so the software platform does not require significant modifications or customizations. We offer several effective retail analytics scenarios for your business.

Sales and Inventory

It allows you to assess plan fulfillment, compare results with previous periods, and analyze data by structure. Comparisons can also be made through the creation of rankings, geodata breakdowns, factor analysis, and ABC and XYZ analysis. Inventory analysis involves monitoring turnover, stockouts, and structure, as well as reviewing product assortment and demand. Inventory plans can be developed based on this solution.

Receipts and loyalty programs

In the app, you can track trends in key metrics such as sales, number of receipts, average receipt value, number of customers, and conversion rates. You can analyze this data through ranking, segmentation, penetration, cluster analysis, as well as ABC and XYZ analysis. Reports on receipts and retail loyalty programs can be used to evaluate the effectiveness of marketing strategies by specific geographic regions, retail locations, products, and product categories.

Finance

It is used to analyze fixed and variable costs, revenues, and margins. It allows you to track changes in key performance indicators relative to previous periods and budgeted values through LFL analysis. The system allows you to examine key financial indicators in retail in detail, such as profitability, liquidity, and financial stability, perform balance sheet analysis, and examine cash flows.

Procurement

It allows you to track the execution of stocking plans using the LFL analysis method. It enables you to compare data across different periods and analyze the structure of purchases by price, supplier, transaction, returns, and rejections. It allows you to group products, suppliers, or buyers using ABC analysis methods and track delivery delays.

Accounts payable

Used to assess a company’s liabilities in terms of total, current, and past-due debt, as well as its turnover rate. Analytical data is available in the form of structure, trends, ratings, individual payments, and transactions. Users can freely create and analyze debt portfolios, monitor scheduled payments, and examine settlement processes broken down by individual retail chains, managers, departments, counterparties, and portfolios.

Staff

Displays aggregate metrics on the number of hired and terminated employees, staff turnover, and average hourly wages compared to previous periods, with the ability to drill down to individual retail locations, employee categories, tenure, and departments. Detailed analytics allow for a thorough examination of the workforce structure, labor productivity, expenses, and payroll. In the “Ratings” section, you can analyze HR performance by individual stores, identifying leaders and underperformers based on turnover rates, headcount, hours worked, and other metrics.

In-house production

It allows you to track plan execution and scrap rates, and to analyze production in terms of deviations in production timelines and cost of goods sold. Using this solution, you can monitor and analyze data using ABC analysis and sampling.

What you get in the end

This comprehensive solution for analyzing key retail metrics is user-friendly, requires no specialized knowledge, and is suitable for a wide range of users. All you need to do is configure the retail analytics application to suit the specific needs of your business. Users can manage a set of metrics to analyze each specific phenomenon and drill down into aggregate values. The main advantages of this retail solution are:

• The ability to derive real value for your business from vast amounts of data. The in-depth insights into business operations provided by retail analytics help in developing competitive strategies and in tactical and strategic management.
• Quickly search for the information you need among unlimited volumes of data by sending a query to a bot, which speeds up decision-making processes.
• A single source of truth for decision-making at all levels of company management. All retail analytics reports are generated from a single database, so discrepancies in information across different users’ documents are eliminated.
• Automation of reporting generation procedures and distribution to all user categories.

Employees in finance and marketing departments, as well as HR professionals, procurement specialists, and logistics specialists, can use this analytical data in their work. You can either utilize the full range of features offered by the applications or purchase individual modules to help your business tackle its most pressing and time-consuming tasks.