How to Develop Retail Analytics Software to Bring in New Customers

 How to Develop Retail Analytics Software to Bring in New Customers

 How to Develop Retail Analytics Software to Bring in New Customers

Accurate analytics is the key to the success of any company in any industry. It is thanks to the thorough analysis of work processes that company leaders can make the right business decisions that will lead companies to success.

Data analytics predict which products will sell out quickly and when it will happen. You can better understand your customers and offer them what they are looking for. With data analytics, retailers can personalize the shopper experience and offers, whether you're shopping in a store or online. Proper data analysis can drive sales in the short term and build customer loyalty in the long term.

Therefore, it is important for retailers to create the right quality analytical platform.

How to Create Retail Analytics Software?

Analytics software for retail is a complex solution that requires a qualitative approach to its development. Below are 4 factors to consider for those looking to build an effective platform.

Business Analysis 

Business analysis is an integral part of any development. BA includes three stages: 

• - Mission identification and formulation. 
• - Domain analysis (market, competitors, audience). 
• - Building a set of functional and non-functional requirements. 

Business analysis helps to determine the set of functions required for the future platform, as well as to create a complete picture of the characteristics of the desired software.

Design

The design stage in software development is of greatest value, as it is important to create clear, well-thought-out UX / UI data that is easy to work with. We advise you to stick to a minimalist design so as not to distract the user's attention to unnecessary things.

Development

The choice of software for your business depends on such factors as the desired set of functions, budget, goals of your business, etc. You can use existing software or develop a new one if your company needs a complex system.

QA and Testing

Whether you choose a custom solution or implement a ready-made system into your business processes, to achieve better product quality, reduce bugs and errors, and determine the platform’s weaknesses — don’t miss the QA and testing phase. To reduce the number of operations and save your time and money, this phase should be started at the same time as the development one.

Here are must-have features that should be included in retail analytics software:

• - Reporting.
• - Data visualization.
• - Data filtering and sorting.
• - Data transformation.
• - Integrations.
• - Information sharing.
• - Web and mobile accessibility.

Analytics Software Benefits

If you follow all of the procedures, you'll have retail analytics software that will help you grow your business. Here are some of the major benefits it can provide.

Efficient data management. A user-friendly platform is key to effective data management. The system ensures easy access to data stored in different repositories of the company, allows for analysis of this data, and serves as a powerful business intelligence tool.

Scalability. Analytics platforms are created to handle large volumes of data, which means that even in case the volume increases, the solution will be capable of handling it without losses in performance.

Valuable insights. With the analytics software, you can gain valuable insights into customer behavior. Using this data, business owners can make smarter data-driven decisions, create meaningful and successful marketing campaigns, and contribute to improvement by enabling more personalized and effective customer service.

Data representation. The retail analytics platform uses a variety of tools and presentation methods to process data from a variety of sources. This development will become a source of meaningful information about all internal and external processes.

Emerline has experience in developing analytical software for retail. One of the successful projects is a mobile application that simplifies the work of retailers by allowing them to centrally manage sales data, exchange data on the Internet, updates and monitor them in real-time, and many other useful functions that can reduce the time for analyzing supplier data from several hours up to 22 seconds.

If your business needs any solution that can keep your company running efficiently, turn to a trusted technology partner. Their experienced specialists will answer all your questions free of charge, thoroughly study your problem, and offer the right solution!