How SAS software improves omnichannel retail analytics
When it comes to data analytics, the retail space has emerged as a major segment that is heavily leveraging SAS software. This is especially true when it comes to omnichannel retail analytics with SAS software – why wouldn’t it? A recent study by the CMO Council found that 54% of consumers would consider ending their relationship with a retailer if they are not given the tailor-made, relevant content, and offers that only omnichannel retail analytics could provide.
With such an emphasis on analytics in the retail space, it goes without saying that leveraging the right platform is critical. That’s precisely what this blog dives into. However, before we move any further if you’re uncertain as to what omnichannel retail analytics is, here’s a brief overview.
What is omnichannel retail analytics?
For many years, omnichannel analytics has been all about bridging the divide between digital and physical channels in an effort to identify customers and precisely where they are based/located. What devices do they use? What platforms? Do they use mobile apps? What time of day do they shop? What products do they like? Do they shop on social media? These are just a few insights omnichannel retail analytics can provide.
Omnichannel retail analytics with SAS software, in particular, can play a driving role in giving businesses insights into their retail customer’s purchasing journey. With all these insights, business would have access to a wealth of information and the power to market products to customers at the right time and on the right platform, and channel.
Now that we’ve run through a basic overview of omnichannel retail analytics, here are three reasons SAS software is ahead of the pack.
Use retail analytics to target new channels
Ten years ago, very few people would have predicted the impact social media and the evolution of mobile devices have had on global commerce. With customers stepping into the mobile space exponentially every single day, the opportunities are endless.
However, given how crowded the online space is with both consumers and competitors, making sure you have the right insights to drive revenue and generate interest is critical. That’s where retail analytics comes into play.
Whether you’re focusing on Facebook, Instagram, and just about any other social platform, or you’re looking for more information on how your brand is being utilised across a variety of devices, SAS software has the ability to deliver these insights with ease.
Know when and where to meet your customers with customised offers
In a way, the move to multiple channels and platforms has made things much difficult for retailers. Instead of focusing exclusively on one mode of demand generation and sales, they now have to focus on multiple avenues. The good thing about this? More channels = more opportunities (provided you use the right tools and platforms).
With SAS software, retailers can leverage retail analytics with ease and match the speeds and convenience at which customers research products and compare prices across multiple channels. Thanks to this speed, they now have the ability to respond with relevant offers, competitive prices, and the products their customers and prospects are most interested in. A little personalisation goes a long way!
Optimise each store and outlet
Many retailers operate multiple sites across vast geographical areas, which means that while the overall brand is the same, the target customer segments can vary significantly. Gauging these insights and information on the ground and at the store-level can be very difficult without the help of a substantial analytics platform.
With SAS software’s omnichannel trade area analytics, retailers can now understand customers in specific communities and regions, across multiple channels. This gives businesses and store managers the ability to tailor customised messaging, pricing, sales, and marketing efforts down to the store level.
Unlike many analytics providers, SAS has consistently managed to stay on par with the latest trends and developments, enabling it to ensure that it’s users and customers have access to the most up-to-date insights in real-time. As the retail space continues to evolve, so will retail analytics and you can rest assured knowing that SAS software will as well.
With many years of experience as a SAS partner, in addition to countless years of shared SAS experience among our team members, our team here at Selerity have allowed many of our clients to enjoy significant savings – sometimes in the range of millions of dollars. If you would like to know more about our SAS services, our company, and our work with SAS, in addition to how you can leverage our expertise, feel free to reach out to us, or stay tuned to this feed.