Summary

  • As a retailer, your week is often packed with hours of manual work. 
  • With retail intelligence, you gain crucial time back in your day to focus on the more creative aspects of your job.  
  • A retail intelligence solution contextualizes and democratizes data, taking a lot of this manual work off of your plate by automating processes. 
  • This technology allows you to focus on driving successful strategies, building assortments, running promotions, and more.

 


 

Introduction

What if you had an additional four or five hours every workweek? And no, not hours you have to tack on to the end or beginning of your day just to get through all of your work. Four to five hours back each week within your 9 to 5 that you no longer have to spend on manual or menial tasks. What would you do with that time?

This “what if” becomes a reality for retail teams who partner with a retail intelligence solution. 

How Does AI-Powered Retail Intelligence Save You Time? 

Market trends shift, consumer preferences change, and competitors evolve. If you are not one step ahead, you are already behind in the world of retail. In such a landscape, time is of the essence, and you have to make decisions in the moment. In order to make decisions that are critical to your role as a retailer, the challenge lies in accessing comprehensive, integrated data quickly. 

Accessing this data can prove difficult, as data is often siloed – spread across teams and sources. A retail intelligence solution breaks silos by democratizing data so everyone on your team has access to the same information in one convenient place. 

With democratized data and readily available insights, your team saves time not only searching for data, but also analyzing the millions of datasets. Instead of manually doing this work, retail intelligence presents you with metrics and answers to the most frequently asked questions. Then, you can determine if you want to drill down for more detail, or if you only need the high-level analysis.

Contextualizing Your Data With Retail Intelligence

Democratized data doesn’t only include bringing together information from all areas of your business; it also pulls data from your market and key competitors to contextualize your performance. But don’t worry; retail intelligence solutions have crawlers that pull in this market data for you and provide analysis of both. 

Combining market insights with internal data in one comprehensive view provides the necessary context for effective decision-making that retailers need. Retail intelligence brings these metrics together so you can see the insights immediately. Instead of wasting time analyzing, you can use the data to make decisions and focus on the more critical aspects of your job. 

Spend Your Time on the Tasks That Matter Most 

By saving so much time that you otherwise would have spent manually pulling and analyzing data, retailers can reclaim hours back in their day to spend on other tasks such as: 

  1. Creating unique assortments customers want to buy. 
  2. Determining the best, personalized promotional strategies based on customer preferences.
  3. Identifying optimal price points for strategies that keep you profitable and competitive.  
  4. Using trends to inform your buying and planning process.   
  5. Optimizing your omnichannel performance

Conclusion

Adding EDITED’s retail intelligence solution to your team’s workflow allows you to optimize processes, democratize data, and contextualize key findings, thus saving you valuable time every day. With this AI-powered retail analytics solution taking over the more manual tasks, you can now focus your efforts on other areas of your job, such as driving successful strategies, building assortments, running promotions, and more. 

Discover how EDITED can work for your business and give you hours back in your week by booking a demo here.