2 August 2018

There’s No Universal Solution in Retail Analytics

You surely heard a lot of exaggerated cliches, a lot of them entirely irrelevant. But what about ‘One size doesn’t fit all,’ and what it has to do with retail analytics?

For our purpose, we’re talking about personalized customer experience. An individually crafted approach is alpha and omega of the retail analytics industry. Or at least, should be.

It doesn’t matter if it’s a client from FMCG or services segment. The same rule applies universally – each case requires individual and deliberate analysis.

Every business faces various challenges and problems. To put it simply, each retailer is unique and strives for his solutions. Without keen and deep individual insight, the results of whole retail-analytics would be tenuous at best. In this case, obscure marginal revenue increase would mean useless investments regarding just the costs of the hardware and installation itself.

Retail-analytics cannot operate sustainably while not focusing on individual customer success.

All incredible improvements that we’ve been able to deliver to our clients stand upon our customer-oriented approach. From the very beginning, we’ve devoted the entire department focused on Customer Success to bring the best analysis possible, thanks to our brilliant analysts who are developing specialized solutions and custom builds for our customers.  

Tailor fitting customer success is vital for the customer’s comprehension too. It’s critical for us that a retailer understands the provided data as clearly as possible.

If we chose to go by the ‘universal way’, we wouldn’t be able to reach such amazing results with our clients.

The outcomes speak for themselves, so to name the few. Well known German chain of retail stores, dm-drogerie markt increased its revenue by more than 6% by utilizing Pygmalios Analytics platform, primarily through opening hours adjustment. Mobile service provider, O2 Slovakia overhauled its workforce management and set the optimal setting of tellers and their tables, thanks to our movement dynamics analysis.

Treating all retailers as one entity in this industry and acting accordingly to it isn’t just dead wrong, but it contradicts the fundamental purpose of our job.

Technological solutions could be very beneficial, but a ‘lazy-universal’ approach merely suffocates their potential and wastes rare resources.
 
 
David Borovsky, Marketing Intern


Read also:

Pygmalios from the Perspective of University Teacher

In-store Analytics Are the New Norm 

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