Retail is evolving: great changes in consumer behavior and habits have led retailers to adapt quickly, equipping their stores with the latest technology to avoid being crushed by competitors. The secret to never be left behind? Analyzing the data obtained from the interaction of customers in your store, is essential to optimize your marketing strategies and increase turnover and performance.
Get relevant data for your retail business
To analyze the behavior of a market segment, it is important to know which ones we need. In this way, we will be able to focus your efforts on improving what has a direct impact on our profitability.
What are the most relevant data for a store? It is not necessary to collect all those available, but only those really relevant to make decisions that improve the operation of the point of sale. And which are these “smart data“?
If our business is a fashion store, in addition to obtaining billing data, we will be interested in obtaining other variables, such as average time spent in the store or measuring conversion and attraction rates.
On the other hand, knowing the sex, age or type of mobile device used by a user, although interesting data, does not allow us to draw too many conclusions about how effective marketing campaigns are or how efficient your employees.
Big Data vs. Smart Data
Big Data analysis is evolving towards Smart Data. Managing an ocean of data can be complicated as well as being difficult to analyze to draw conclusions. Smart Data is what we need: targeted and personalized data for our goals.
Therefore, 3.0 stores should be guided by a “Smart Data” analysis, which can provide an accurate visualization of the main key perfomance indicators.
TC Group Solutions specializes in technologies for Retail Intelligence and for processing customer behavior data. We offer solutions to collect, store, process and analyze store data with our TC Analytics software.