Business Intelligence is a tool that is here to stay and transform the world of commerce. Here are some of the benefits of applying it in a physical store.
1. It allows knowing patterns of customer behavior
Business intelligence offers the possibility of knowing various aspects of customers and potential customers. For example:
- What are the hours that most visit the store?
- What is the route they do inside the premises?
- What sites in the store go unnoticed before your eyes.
- Even what they search on the Internet with the local Wi-fi.
2. Increase sales
This is the ultimate purpose for which the business works: to earn more money. Through business intelligence, this goal can be achieved in a short time and without wasting energy on unnecessary actions. Details, for example, renew the signage of the local to make visible sectors that customers do not take into account in their usual route, can give financial benefits and it is thanks to the business intelligence that this can be known.
3. Reduce expenses
Is it worth having 10 customer service employees on Monday at 3 p.m.? Or should the workforce be reduced during that time and emphasized at other times of the day or week? The answer to that will depend on each business. The installation of a person counter, to subsequently act accordingly with the data it provides, is one of the many ways in which business intelligence can help reduce a store’s expenses.
4. Accelerates the analysis time
Business intelligence tools not only include data collectors (for example, a person counter ) but also the automated software necessary to analyze and interpret them in a dashboard. Then, the person in charge of the store or the person in charge of the sector will take the decisions, but assisted by top-level software that will save time and make better decisions.
5. Help set realistic goals
Experts say that goals, in any field, must be specific, measurable and realistic. Only then will there be hope to see them fulfilled. Business intelligence helps store managers set realistic goals. With the data that is taken from the premises and when also comparing them with current and historical data of stores of the same category and/or geographic region, goals and possible projections of reaching can be established.
6. It works in practice
So far, only some of the benefits of incorporating business intelligence tools in a store. This, far from being a purely theoretical issue, is something that can benefit in the short, medium and long term, anyone who puts them into operation in your business.