Intelligence gathering is the heart of every action in business. Arriving at the right decisions and executing strategic methods to overcome any obstacle entails gathering and analyzing information. That said, ensure not to miss any essential data in your business and take every factor and aspect into account. Do all of this and more with robust retail intelligence software. Secure yours in this article.
12+ Retail Intelligence Software
5. Wiser Solutions
7. Numerator Insights
10. Rakuten Intelligence
11. SPS Commerce Analytics
What Is Retail Intelligence Software?
Retail intelligence software is a digital solution that helps businesses in the processes involved in gathering and processing retail data. It functions to measure and collect data analytics from various channels and integrates it into a single database. Also, it helps in auditing the performances of your content marketing and tracks customer behavior in your websites. To make the data more comprehensive, it then converts them into visual reports.
When you use this software, you can also determine how your prices and promotions affect the purchase decision of your customers. In addition, with this software, you can access intelligence tools for monitoring your competitors.
Taking advantage of this technology will bring about multiple benefits to your retail business. For one, you can use the information you can acquire from using this software as a reference to pivot your business plan and marketing strategies. On top of that, besides helping you optimize results, it also minimizes the resources you need to expend in the process.
In choosing which software to download, you need to be meticulous. Considering that there are plenty of available options in the software market, choosing one can be challenging. One helpful tip to filter your choices skillfully is by studying the services they can offer you. Although they have overlapping functionalities, they differ in their unique features, prices, specialization, and the digital devices it supports. That said, pay attention to those differences and go for the one most suited for your business. The following are features that can be most useful for you:
- Web analytics
- Marketing analytics
- Digital signage tools
- Competitive intelligence tools
- Predictive analytics
- Powerful reporting tools
- Channel management functionalities
- Third-party applications tools
Top 10 Retail Intelligence Software
1. SPS Commerce
This software provides its users with tools for data cleansing and retail data trends evaluation. They have 312 million dollars in revenue and have 1,572 people on their team.
2. Numerator Insights
Numerator Insights offers omnichannel coverage and survey software functionalities to its users. They have 1,692 employees and have a generated revenue of 172.6 million dollars.
Premise helps businesses with its tools for task targeting and campaign management. They employed 269 people to work for them and generated a revenue of 39 million dollars.
Cash flow modeling and a comprehensive report set controls are examples of features in Omnilytics. Its developer, NXTsoft, has 150 employees and has 31 million dollars in revenue.
5. Wiser Solutions
Wiser Solutions has tools for data collection and workflow automation capabilities. They have 24 million dollars in generated revenue and have 130 people on their team.
6. Rakuten Intelligence
When you use this software, you can access tools for measuring business intelligence and managing eCommerce. They have 21 million dollars in revenue and have 105 employees working for them.
This competitive intelligence solution has competitor price tracking and market data analysis tools. Its developer, Intelligence Node, has employed 115 people and has 16.7 million dollars in revenue.
This digital solution provides its users with retail analytics and retail business intelligence tools. They have 48 people working for them and have 10.2 million dollars in generated revenue.
9. Contact Pigeon
In this digital solution, you can access ROI tracking and lead qualification functionalities. They have a generated revenue of 2.6 million dollars and have 18 employees.
Intely is a business intelligence software that has strategic planning and visual analytics features. Also, it allows its users to access tools for streamlining profitability analysis.
Why is business intelligence essential in retail?
Collecting and analyzing retail intelligence will give the knowledge about all there is to know about customer behavior. It lets you determine what catches the interest of your clients and helps you point out the gaps in your customer service. That said, utilizing business intelligence tools and techniques will give you enough information to devise innovative methods to meet customer expectations and improve customer satisfaction.
What are the stages of business intelligence?
The process of business intelligence has four stages. Collecting data from varying sources and platforms or data sourcing comes first. The second stage involves analyzing the information collected and identifying essential knowledge, and summarizing them. Following it is the third stage or the data modeling step. The last step of business intelligence includes risk management and data monitoring.
What are the responsibilities of a business intelligence analyst?
Depending on the company they are working for, business intelligence analysts can have varying responsibilities. Although, in general, the job description of most people with this job entails overseeing the processes involved in data analysis and data modeling. That said, it encompasses the tasks of procuring, reviewing, validating, monitoring, and profiling data.
In the business industry, several factors can either positively or negatively impact the health of your business. That said, before taking any step, you should gather enough data to guarantee that you are going in the right direction and taking the right pace. Simplify the complexities of data collection with the best retail intelligence software for you. Download yours today and start taking defining steps towards your goals.
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