improving data management for retail excellence n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Improving Data Management for Retail Excellence PowerPoint Presentation
Download Presentation
Improving Data Management for Retail Excellence

Loading in 2 Seconds...

play fullscreen
1 / 3

Improving Data Management for Retail Excellence - PowerPoint PPT Presentation


  • 3 Views
  • Uploaded on

When your retail strategy empowers employees through data and analytics, you enhance every aspect of their workday, which in turn leads to a better customer experience.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

Improving Data Management for Retail Excellence


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
improving data management for retail excellence

Improving Data Management for Retail Excellence

When your retail strategy empowers employees through data and analytics, you enhance every

aspect of their workday, which in turn leads to a better customer experience.

Enabling these enhancements requires a data management solution that is effective, efficient, and

in a form that can be accessed quickly and easily by key employees in your retail business. Such

data accessibility can be profitable, too – the global retail industry stands to gain an additional

$94B in revenue over four years by taking full advantage of their data[1].

In this post, we’ll look at several major data management considerations for retail, including the key

differences between ERP and EAI, choosing the right ERP, and a brief look at business intelligence.

ERP & EAI

Enterprise Resource Planning (ERP) and Enterprise Application Integration (EAI) are two popular

solutions to data management woes, but in very different ways. For many large retailers, the

question isn’t which of these two solutions they should use, but rather how to implement both of

them most effectively.

An ERP platform is a single software application that integrates major business functions that span

across core operations. This is where the collection and organization of all your data occurs. EAI, on

the other hand, is a framework that takes multiple platforms and allows them to communicate,

integrating the data between these different

integrating the data between these different information systems that would otherwise be isolated

in “data silos”. One important benefit of EAI, in addition to the core importance of communicating

data, is that it allows companies to make the most of their pre-existing IT investments – a huge

initial cost-saving measure.

Fear of disruption?

Sometimes companies are hesitant to implement these two very powerful solutions because of the

risk of data loss or disruption. These risks can be avoided by choosing the right partner for your

implementation efforts and having them available for employee support before, during, and after

the implementation. Though it may seem obvious, having a clear idea from the beginning (and

sticking to it) will prevent hours of headaches down the line.

One major prerequisite for successful implementing ERP and EAI is selecting the right ERP platform

for your industry – one that can help you from a general operational standpoint by providing the

tools you need to face problems specific to your line of business. For retailers, some examples of

features that should come standard include:

POS management

E-commerce utilities such as destination-based taxation and real-time inventory updates

Contact center capabilities

Marketing - content and campaign management

Social monitoring

Store operations - statement reconciliation and pricing management

Supply chain and logistics

Sales force automation

Financial management

HR - payroll and related tasks

Business intelligence (BI)

Working together, these functions are essential for any retail business looking to create a

memorable shopping experience that attracts loyal and engaged customers.

Making Data Usable

Having all the data in the world is useless if it doesn’t produce actionable results. BI is the process

of taking raw data, giving it context, and arriving at one version of truth – and doing it an

understandable way using a real-time “dashboard” that contains visualizations, graphs, and charts.

For retail analytics, BI can be integral in a number of ways, especially in customer investigation that

helps enhance the buying experience. It can also be used to understand the relationship between

purchasing patterns and other essential measurements across geographical locations. As BI is an

ongoing process, particularly with regards to data updates within an enterprise data warehouse,

having the right ongoing support from consultants

having the right ongoing support from consultants can completely change your employee

experience.

Conclusion

Better customer data management leads to a better customer experience and can have a positive

impact that is felt tenfold across your entire business. So transitioning to a solution that enhances

data management is well worth the necessary time and effort. Don’t let concerns about disruption

keep your business from making this very essential transition, since deciding to wait will only lead

to an increasingly complicated environment in the future.

To find out how better data management can give your entire retail business a boost, be sure to

write to us at sales@visionetsystems.com for your complimentary consultation.