The Importance of Market Analysis in Business Growth
Market analysis is a crucial process for businesses looking to achieve sustainable growth. When making expansion plans, launching a new product, or improving existing services, a business needs to conduct a robust market analysis to understand the potential of their new product and gain feedback on their existing services. However, conducting a robust analysis is easier said […]
How To Drive Sales by Measuring Foot Traffic
Walk-in foot traffic represents the number of customers that enter your store. This measure can be instrumental data for retailers and helps them make important decisions to increase sales. Each store’s foot traffic unveils the effectiveness of the storefront and its strategy to engage and attract potential customers into the store. This also marks the […]
How Can Big Data Help for Dark Store Site Selection?
E-commerce for retail stores have skyrocketed since the pandemic, and many ecommerce stores have witnessed tremendous growth of their e-commerce stores. Many people know that their stores can be excellent fulfillment centers as they have the advantage of being close to the customer. They are even more efficient when it comes to traditional stores. Dark […]
Cannibalization in Expansion Plans: How to avoid it?
In marketing strategies, cannibalization refers to decreasing sales revenue, volume, or market share. This happens because of a company introducing a new product. In E-commerce, some companies approach intentional cannibalization to reduce the prices of their offerings. This allows them to benefit from the host of customers that gather to buy the discounted product. Therefore, […]
How to enhance Market Intelligence Reports with Big Data?
In marketing strategies, cannibalization refers to decreasing sales revenue, volume, or market share. This happens because of a company introducing a new product. In E-commerce, some companies approach intentional cannibalization to reduce the prices of their offerings. This allows them to benefit from the host of customers that gather to buy the discounted product. Therefore, […]
Types of Supply Chain Analytics & why is important?
Supply chain analytics is one of the most important parts of managing any company that produces and markets products. The data obtained by supply chain analytics is key to the success of an organization. In an ideal situation, companies can carry out their operations with the exact number of supplies and without interruptions. This scenario […]
Foot traffic in self-service retail stores
Foot Traffic analytics have revolutionized the way retailers implement expansion, commercial and operational strategies in self-service stores. The correlation between location and foot traffic analytics, visits, sales, and the success of retail self-service restaurants have been studied and proven, so the development of this type of analysis has become a priority in the site selection […]
Benefits of supply chain mapping with Big Data
Supply chain mapping with Big Data is the process of identifying all companies and suppliers in order to analyze and improve the operations that are part of every material, process and delivery involved in the commercialization of products and services. What is supply chain mapping? Supply chain mapping is the process of documenting information on […]
How To Use Predictive Analytics For Supply Chain Optimization?
Supply chain predictive analytics help companies to optimize their supply chain workflow by providing forecasts, identifying inefficiencies and driving forward innovation. Data is helping supply chain management to accomplish things that were practically impossible years ago. In this scenario, predictive analytics has become the perfect way for companies to fight the complexity and the constant […]
Foot Traffic Data: How To Increase Sales On Your Physical Stores?
Foot traffic is a vital pulse check for businesses, reflecting their performance and growth potential in an ever-changing landscape. Businesses must comprehend and analyze foot traffic to entice customers and strengthen sales to stay competitive. This article dives into the essence of foot traffic, its significance for different types of businesses, and practical strategies to […]