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Drive with Business Copilot the route to overcome challenges as a retailer

By:

Maria Berns

Data Analytics
April 21, 2022

With the advent of data analytics that present new ways to increase productivity, the business environment is changing dramatically. Many companies have already jumped to the opportunities that analytical tools provide. According to Accenture analytics: 52% of leading-edge corporations are already using data analytics.

The results have been palpable for retailers such as Apple, Starbucks, Target, IKEA, Levi's compared to those that have delayed adoption. Perhaps the most emblematic example is Amazon, which, thanks to data analytics, has improved its inventory management and engagement with its customers.   "Data is the lifeblood of business, and in volatile times, companies need actionable data more than ever," said Kathy Rudy, chief data and analytics officer of ISG, Information Services Group (ISG). 

Garner studies show how data analytics will be especially important for any company that seeks to stay relevant in the business world. A report by Allied Market Research estimates that the Big Data retail market will reach nearly $26 billion by 2028. Action is needed, and now. 

Data analytics is an umbrella term for techniques that analyze large amounts of data to make decisions about things such as customer preferences, sales, marketing, and other aspects of the business. It also includes techniques that use data to predict future events or trends in order to make better decisions, as well as techniques that can be used to predict the outcomes of human decision-making. 

At Datavalue, we know how to use data effectively. With this in mind, we designed Business Copilot, a comprehensive solution that will allow your company to connect all the data it generates and analyze it to turn it into valuable knowledge. Thus, you’ll be able to make efficient strategic and tactical decisions. 

With our solution we got you covered in all four areas.  

Marketing

Marketing Copilot can determine whether your marketing campaigns are helping you reach your goals. 

How many people are visiting your site or app each month? How many new customers do you get each month? How many people do you lose each month? When do they make purchases? What do your customers have in common and what differentiates them when they buy? How do their purchases connect with their behavior on your social networks? Who buys more from you, who buys less from you, who has stopped buying from you? Do you want to know with a high degree of probability if your customer will continue to buy from you or what they will be interested in next week?

This way you can have more personalized relationships with your customers and achieve better and more sales.

Sales

Our solution Sales Copilot uses data science to help companies better understand their customers and prospects. You need to know more about who your target market is.

This tool will let you know how your marketing strategies are impacting your sales. By segmenting your products by category, distribution channels or sales force, you can quickly get an idea of your profitability at different points in time. You will have detailed information about your sales at your fingertips.

Finance

With the module Finance Copilot you can make faster business decisions by visualizing the most important variables and financial statements sorted according to your company's needs. You will be able to get a quick overview of debt, liquidity and profitability ratios by customer or business unit. 

You will know specifically the costs attributed to each brand category and the financial health of your company in general so you can control your company's performance by identifying those that exceed tolerance levels.  

Supply Chain

Supply Chain Copilot will help you make decisions that can increase the effectiveness of the whole supply chain.

It allows you to examine and analyze the optimal purchase and distribution point for each of your products. You can easily identify the best-in-class suppliers, service providers, and other third parties that support your business operations. You can also reduce costs while maintaining quality and service levels, monitor the status of your inventories, calculate the profitability of your products from inventory levels, and predict future demand for the pre-cuts you have already sold.

With Business Copilot, you can integrate these four areas into one that can also help build a data-driven culture in your organization, providing you with the right tools to analyze data.

A final thought

By signing up to this form I agree, that Datavalue may store my data and may contact me using the email address I have provided with promotional emails about products, special offers, and other information which may be of interest. Please also read our privacy policy. You can revoke your consent at any time
If you need help with your Digital Strategy don't hesitate to contact us.

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