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Retail Analytics
Embrace data-driven practices as an insurer to reduce risk, enhance customer understanding, and boost profitability.
In the face of rapidly changing customer demands and the increasing dominance of online shopping, retailers must prioritize adaptability and peak supply chain efficiency. Embracing data-driven insights to comprehend customer behaviors and market dynamics enables retailers to evolve and transform at the industry’s pace.
Our expertise lies in assisting retailers in analyzing vast datasets to enable informed decision-making across all aspects of their operations.
Data and Analytics Services for Retail
Amidst every click and purchase, valuable data about customers and shoppers is continuously gathered. Our assistance lies in consolidating this data from POS systems, ecommerce transactions, supply chain systems, and social media into a unified platform. By doing so, you can efficiently address consumer demands, discover market opportunities, and adapt swiftly in a rapidly evolving landscape.
Product Availability
Conduct a thorough analysis of product data based on categories, suppliers, and locations to optimize the product mix, ensure appropriate store allocation, and maintain optimal inventory levels to meet customer demand.
Customer Behavior
Examine customer buying patterns across various channels and geographic markets, utilizing this data to adapt product offerings, target marketing strategies, and optimize product pricing based on market dynamics.
Forecasting and Supply Chain Management
Enhance purchasing, forecasting, and distribution management by leveraging both traditional and advanced analytics. Align order, production, and delivery schedules with consumer demand, while reducing costs linked to excessive inventory.
Store Operations
Examine store and franchise performance by analyzing sales trends, customer traffic, and transactions. Conduct comparisons to identify high-performing locations and areas that require improvement.
Optimize Retail Locations
Leverage geospatial data to enhance your consumer insights, evaluating the economic significance of each physical location. By employing techniques such as indoor mapping, you can optimize the in-store experience by understanding customer shopping behavior and preferences.
Promotional Optimization
Gain insights into the efficacy of promotional offers and their influence on sales, inventory, and product availability.
Retail Dashboards
Our intuitive dashboards provide Retail customers with quick access to critical KPIs, giving them a holistic picture of operations.
Examples of Interactive Dashboards for Retail
The U.S. Retail Industry dashboard visualizes information about the retail industry from 2014 until now, including how the industry is performing relative to National Retail Federation (NRF) industry forecast. Using this dashboard, retail companies, associations, partners, and analysts can visualize short- and long-term data about the retail industry as a whole and each sector within.
Data sourced by the NRF and the U.S. Census Bureau
The Best Buy Financial Performance Dashboard provides a more in-depth analysis of individual company performance. It uses Best Buy as an example and visualizes the company’s financial performance and sentiment over recent months and years. Retail companies can use this type of dashboard to get a quick understanding of company performance, analyze the relationship between sentiment and company performance, and see how revenue numbers compare to overall industry sales trends.
Data sourced by Marketbeat
What We Do
Parabola9 implements the best solution to transform your organization with data-driven decisions. We help you understand your data, identify trends, and make informed decisions that will help you achieve your goals. We offer a wide range of services, including data analysis, data visualization, and data-driven decision-making. We work with you to understand your needs and develop a custom solution that meets your specific requirements.
Strategy
Our team helps you see the big picture with data-driven insights and a custom action plan to achieve your business goals.
Execution
Our team of experts will help you build and deploy the foundation for data analytics success, saving you time and money.
Migration
We will help you migrate your legacy data solutions to modern cloud-based platforms without disrupting your business.
Data Team
Our team of data experts can help you fill talent gaps and provide ongoing support at any level of your organization.
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Sign up to meet with one of our analytics experts who will review your data struggles and help map out steps to achieve data-driven decision making.
