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Big data = Big stories

Long before the inception of Instagram, sharing stories has been an important tradition. Humankind responds to stories. We can more easily make discoveries and actions when key elements of pattern-seeking and intelligence are connected.

Our solution, Retail Advantage builds on more than a decade in retail analytics and helps businesses explore large data sets to draw the bigger picture and a faster understanding of retail performance.

It is common for businesses to invest in obtaining a lot of information, but in many cases it sits in vast data silos, gathering virtual dust. Our experience shows that new ideas and opportunities come from engaging with multiple data sources, so it is vital not only to collect, but connect the data. Consumers no longer compare their purchases simply by category, but rather measure the service they receive when shopping for jeans to say booking their Airbnb. Now, it is not only possible, but important to easily layer different data types so that you don’t leave blind spots open to disruption from competitors.

The right tools and coaching help retail teams or tenants achieve better results by facilitating the best paths of action. Property owners and brands that utilise retail intelligence can build a more transparent relationship through consistent reporting and shared access to accurate data. Once the process of effective information sharing begins, a whole range of business benefits are within reach. This enables the full story behind their customer movements and intrinsic links between spending patterns, property revenue and promotional campaigns.

Every business has its own story and its own data strategy, but it helps to partner and arm your professionals with tools that show, rather than tell.

 

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