Best Retail Analytics Software
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What is Retail Analytics Software?
Retail analytics software allows businesses in the retail industry to analyze and interpret data related to their products, customers, and overall business performance. These platforms provide insights into key metrics such as sales trends, inventory levels, customer behavior, foot traffic, and product performance. Retail analytics software helps businesses make data-driven decisions by optimizing pricing, inventory management, store layouts, and marketing strategies. It enables retailers to enhance customer experiences, improve operational efficiency, and drive profitability. Compare and read user reviews of the best Retail Analytics software currently available using the table below. This list is updated regularly.
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1
SMS Storetraffic
SMS Storetraffic
Smart, efficient, and anonymous People Counters & Analytics for the real world. Our solution allows for simple deployment, capture, and analysis of the number of people that enter a physical location. Optionally we also capture and report occupancy in real-time. We help Retailers, Libraries, Casinos, Universities, Places of worship, Office buildings, and other industries to analyze and take action on their people traffic trend. For Retailers, we offer a specialized package to measure Performance on Traffic, including Conversion Rate and Service Levels. Combining POS data and staff data is easy with our direct integrations. Our Retail Equation simulator allows users to run simulations to plan sales improvement. It is also extremely beneficial as a learning tool to understand the relationship between traffic, staffing, conversion rate, and good quality service.Starting Price: $19.95 USD -
2
Quant
Quant Retail s.r.o.
Cloud solution for managing retail spaces, product categories, planograms and shelf labels. Thanks to the smart automatic generating of planograms optimized according to sales based on user-defined templates it is possible to maintain the planograms in up-to-date state also in large sales networks with diverse stores without increasing demands on human resources. Quant is a integrated solution for Space Planning, Category Management, planograms, ranging, Shelf Labels and POS printing, communication with stores and In-store Marketing. Quant Cloud has all the advantages of cloud computing. Work from all over the world on the same projects as your colleagues and use the same database on different computers. No need to build complex infrastructures and overload your IT department. Our consultants are available to help you when you need it. We train your users and help with data integration so Quant can be live in less than 12 weeks.Starting Price: €1200 / User / Year -
3
Quaeris
Quaeris, Inc.
Align analytics to your everyday business workflows. Your business relies on people, data and documents, but the process of using them is broken. QuaerisAI enables seamless downstream workflows across your People, Documents and Data Assets. Use natural language search on data, documents and collaborate in private or within Communities - all in one platform! QuaerisAI offers time savings of at-least 30 minutes to an hour/day/resource - imagine the productivity enhancements you give your users without the expense of buying and consolidating a bunch of AI tools. Quaeris can be rolled out to team of 10s or 1000s of users seamlessly within a matter of days - without much need of IT, and that is why IT & data teams love us!Starting Price: $100 per month -
4
BetterCommerce
BetterCommerce
BetterCommerce is a revolutionary commerce stack that redefines mid-market commerce with its advanced and flexible APIs. With a suite of composable modules, including Product Information Management (PIM), eCommerce, Content Management System (CMS), Order Management System (OMS), Analytics, and Customer Engagement (Engage), BetterCommerce provides end-to-end ecommerce solutions that empower hyper-scaling brands to thrive in a highly competitive market. Our API-first approach allows seamless integration with your current tech stack, eliminating the need for complex third-party integrations. Whether you choose to implement individual modules or leverage the entire stack, BetterCommerce adapts to your unique business needs.Starting Price: £1000/month -
5
Competera
Competera
Competera enhances retailers’ profitability and customer loyalty by leveraging AI to set optimal, customer-centric prices in real time. Our all-in-one platform combines Competitive Data and the Pricing Platform to meet all pricing needs. • Competitive Data provides real-time, high-quality market insights with a 98% SLA, offering a 360-degree market view to uncover trends and optimize pricing strategies. • Pricing Platform utilizes Contextual AI with over 20 demand drivers to deliver real-time pricing optimization across all products and channels. Retailers can make data-driven decisions with 95% accuracy, increase basket value, and achieve up to a 6% gross margin uplift. Our platform reduces the pricing team’s workload by up to 70%, allowing retailers to focus on strategic initiatives. The cost depends on the number of SKUs managed, deployment scale, and product configuration. -
6
RetailMetrix
retailMetrix
The #1 analytics platform for grocers. retailMetrix is a data analytics platform designed specifically for grocers. Our mobile app provides real-time insights and analytics on sales, customer behavior, and operational efficiency to help grocers optimize their operations and drive growth. Some of the features of our mobile app include real-time sales data tracking, customer behavior insights, operational efficiency tools, and customizable dashboards. These tools allow grocers to access key metrics and data on the go, enabling them to make informed decisions about their business. With the RetailMetrix mobile app, grocers can get the data and insights they need to drive success and optimize their operations. -
7
V-Count
V-Count
Visitor analytics is not just for the web. We live in a world where people are constantly on the move, and physical spaces need to be able to adapt. That's where V-Count comes in. We provide a fast and accurate way to count and analyze visitors in physical locations. Our solutions are powered by our secure cloud-based Business Intelligence Platform (BIP) and the best-in-class Ultima AI sensor, with 99.9% accuracy. Our customers are diverse; from retail to airports, museums, theme parks, to transportation, and every industry with footfall traffic. We designed the dashboards with the customer in mind; customizable and user-friendly - providing easy access for businesses to view each of their location’s performance at any time. The future of people counting is here. -
8
LEAFIO
LEAFIO
For more than 15 years, we've followed our passion for Bring Innovations Closer to Retailers. We help to earn more, make fewer mistakes and work more efficiently by using advanced software to streamline routine supply chain processes. We've helped more than 160 retail chains in 17 countries achieve efficiency. LEAFIO is designed to autonomously execute demand-driven replenishment in an environment of low predictability and constant change. Self-regulating algorithms guarantee sales, margin and turnover increase, inventories optimization, and time-saving due to demand satisfaction. Your trusted advisor in complex retail promotion planning, coordination, and execution. LEAFIO shelf space and planogram optimization module is a full-cycle macro and micro space management solution for retailers and CPG companies that enables automated planogram generation, execution control, and shelf space performance improvement. 100+ retail chains experience an inside-the-solution engine -
9
Vemcount Retail Analytics
Vemco Group
Vemco Group is an innovative software company with 18+ years of global retail experience in people counting and data analytics. The company offers its innovative software for people counting and data analytics on a global scale, empowering retail, malls, entertainment, airports, and public institutions with deep customer insights. Since 2005, our software platform, has utilizied the most accurate and reliable devices, driven savings, efficiency, and boosted conversions. With 1000+ global clients and 25M+ daily counts, we're a leading retail and data analytics company. Expansion includes offices in South America (2013), Dubai (2019), North America, Sweden, Australia (2021), and Riyadh (2023). HQ in Denmark.Starting Price: 14€ -
10
InfiViz
Infilect Technologies
InfiViz is a trusted retail visual intelligence partner for global CPG brands. By combining Image Recognition and AI, our platforms empower retail sales leaders and marketing teams with rich, detailed and accurate in-store execution insights to optimize retail execution, at scale and boost per-store sales by up to 4%. Get >95% accurate, actionable and real-time execution metrics to improve on-shelf SKU visibility, prevent Out-of-Stocks, and monitor store compliances across 400K + stores. We have scaled 400,000 stores across 16+ countries. Top CPG brands like P&G, Nestle, ABinBev and ITC-India today use InfiViz to Get precision SKU detection in both General and Modern trade stores. Empower field-force/salesmen/store owners with real-time insights and action plan to fix execution errors on the spot. Cover 10X more stores. Improve per-store sales by 2%-4%. Frequently monitor Store compliance. Optimize retailer and merchnadizer payouts -
11
iQmetrix
iQmetrix
iQmetrix is the premier provider of retail management software solutions for the wireless industry. Focusing on service, innovation, and agility, iQmetrix's powerful and intuitive retail management software, RQ, enables organizations of any size to efficiently manage and streamline the core functions of their businesses, including point of sale (POS), inventory management, customer relationship management (CRM), human resource (HR), and accounting. RQ Retail Management Software by iQmetrix also offers a rannge of powerful tools to improve business productivity and profitability, such as service automation, marketing, and advanced reporting and analytics.Starting Price: $99.00/month -
12
42
42 Technologies
42 is an end-to-end data omnichannel analytics and reporting platform built for the retail industry. Our retail experts consolidate raw sources of data (point-of-sale, ecommerce sources, ERPs, wholesale reports, etc.). With 42, executives, merchandisers, buyers and sellers get clear insights on how to grow their business by harnessing the power of big data with over 100 custom-built retail metrics. Since being founded in 2013, our team has tailored custom solutions for all sizes of brands and retailers regardless of channel-mix and existing data sources. 42 has won and been nominated for several awards (LVMH Innovation Award, Innovation Award at the Canadian Fashion Designers Awards, Forbes 30 Under 30) and is backed by Y Combinator. Visit us at www.42technologies.com to get started.Starting Price: $1000/month -
13
XPLN Suite
XPLN GmbH
XPLN is one of the leading solutions for collecting current market data, e-commerce price optimization and comprehensive services in the field of Digital Shelf Analytics. A strong focus on technology, innovation and proximity to the customer enable us to deliver higher quality data to our customers and help them grow their business through valuable insights and confident decisions about offers and positioning. Many well-known retailers and brands trust in us. XPLN automatically collects market prices from online channels about your own and competitors' offers. Brands and retailers can track online ratings, stock levels, prices, marketplace ranking, and other metrics on a centralized platform. Clients can also define product repricing strategies based on configured rules, utilize the price monitoring engine to determine required changes, and manually or automatically adjust prices in the database. Further protect your brand through MAP monitoring and detecting unauthorized sellers.Starting Price: $1500 -
14
Peel
Relay Commerce
Peel's intuitive, automated analytics platform helps you measure your data and improve your customer acquisition and retention. Connect your Shopify store(s) and within hours, watch your data transform. Peel selects and sends your e-commerce team the most important data, KPIs, and trend analysis so everyone on your team can understand and access at a glance. Graphs, tables, cohorts, and charts of all your historical data are ready to be explored. All it takes is a couple of clicks to see your data, make smart decisions and fuel business growth.Starting Price: $149 per month -
15
Intely
Intely
intely (inte.ly) is a Business Intelligence, Insights & Analytics platform for retail & wholesale businesses. We offer BI extensions & plugins for eCommerce platforms such as Magento, Shopify & Etc. Intely also provides customizations and Enterprise Business Intelligence development services for custom-built ERP / eCommerce systems. This chart shows the difference between total order count, customer, amount, and quantity of every 1 hour for 24x7. Showing Top order product details, we can search the product orders by the search component. This chart shows Orders details based on products, categories, country, state, and city.Starting Price: $24 per month -
16
Omnilytics
Omnilytics
Omnilytics sets retailers ahead of the competition with deep and actionable insights that power decision-making. As the industry gets increasingly competitive and consumers become more informed, these combined factors have led to the demise of many household retailers in recent years. Brands no longer dictate what’s in and what’s not. The roles have flipped, consumers are in control. Lacking accurate market information, retailers make important decisions with guesswork. The brands that will succeed are those that can detect early trends’ signals, act fast and meet customer demands ahead of the competition. We are constantly seeking to break barriers with technology that transforms retail. Our team is made up of experts from the industry as merchandisers, buyers, brand managers and analysts. We understand your business needs because we have been there too. We are proud to work with some of the biggest and forward-thinking retailers across the globe.Starting Price: $7 per week -
17
Sales Temperature
Sales Temperature
Sales Temperature gives individuals, teams, non-technical owners/operators, and decision-makers the data analysis and forecasts they need to identify, compare and implement labor optimization practices to assist in maintaining profit margins. The platform’s analytical and forecasting capabilities provide for a cohesive and accurate view of the influences on daily customer volumes, allowing for rapid and trustworthy labor optimization opportunities. Instant access to daily weather forecasts and the impact those forecast have eliminates the guessing and provides a trusted source of accurate information. Effortlessly pinpoint and identify essential labor optimization opportunities across the entire enterprise or within a single location of choice. Maximize labor cost savings with an automated forecasting platform. Take away the need for internal team members to guess daily volumes.Starting Price: $20 per location per month -
18
ThirdChannel
ThirdChannel
ThirdChannel is driven by passionate brand experts equipped with cloud-based technology. We empower retailers and brands with actionable data, attributable trust in their workforce, and a genuine competitive advantage. Manage and maintain insights from a single, organized platform. Our suite of intuitive retail solutions allows real-time visibility into each of your stores anywhere in the world no matter what time of the day. ThirdChannel offers distinct field force solutions specifically designed to provide you with up-to-the-minute, real-time visibility into all of your stores around the world all at once, from anywhere. Explore our data-driven resources, all designed to help your company thrive and see how we've supported leading brands and retailers in creating tailored retail execution solutions. Oversee, optimize, and direct your workforce from anywhere. Our intuitive solutions are designed to provide you with real-time visibility, everywhere work happens.Starting Price: Free -
19
AFS G2
AFS Technologies
AFS G2 Analytics is a user-configurable business analytics that allows users to drive data insights without relying on IT. Easy-to-use and flexible, AFS G2 Analytics is ideal for business users involved in the consumer goods industry. AFS G2 Analytics offers more than 20 dashboards, more than 50 solution tabs and more than 100 supported KPIs to business users. AFS G2 can also integrate easily with other AFS solutions and provide users with context-rich insights based on their platform's data. -
20
SPS Commerce
SPS Commerce
EDI is important to your business, but what if you don't want to become an EDI expert (or hire one)? There is a better way. SPS Commerce Fulfillment is a full-service EDI solution that delivers proven technology AND hundreds of EDI experts. Every day, we set up, monitor and ensure that EDI is flowing for tens of thousands of customers across the globe. If a trading partner changes anything, we make any needed changes, contacting them if needed. Are you tired of doing EDI the hard way? Check out SPS Fulfillment. -
21
Wunderdata
Wunderdata
Insights in data lead to smarter decisions by every employee, department and company. A real data-driven culture can only be achieved with a tool that can be used by everyone, not only by data experts. Large online shops are no longer the only ones able to use sophisticated business intelligence. With Wunderdata your IT team will never need to worry about SQL queries and data modeling again. Everything works through the front end and the data modeling is done by our experts. Our focus is on eCommerce. Our team has years of eCommerce experience and we constantly implement learnings of hundreds of online shops in Wunderdata. This way you can be sure, to always stay on top of your competitor. Segment all reports in any dimension you want – instantly. No need to code or touch the data model, just a few clicks.Starting Price: €199 per month -
22
1010data
1010data
1010data’s Insights Platform empowers organizations from across industries and across the globe. With actionable insights and a clear view of shifts in consumer demands and market conditions, businesses can make better, faster decisions with improved outcomes. Analyze everything from item-level baskets to on-shelf availability to loyalty signals empowering better decision-making. Leverage broad and holistic data sets to identify market trends, enhance sales performance, and strengthen retail partnerships. Analyze large data streams, leverage predictive models, and get access to timely, high-quality alternative data from leading providers. -
23
DotActiv
DotActiv
Looking for category management software that allows you to maximize the selling potential of your shelf space? Software that can help you grow your business? After booking your free online exploratory consultation, you can expect us to research and evaluate your unique context. We’ll create a personalized agenda to match your business’ interests, category management goals and context. We’ll reach out to you before your consultation to share your personalized agenda. You’re welcome to request any changes or additional points. We’ll consult with our internal experts to curate and customize conversation points, content, and the presentation so that it’s in line with your personalized agenda. Depending on the outcome of our consultation, we’ll schedule a separate custom advisory consultation to share our proposed recommendations with you.Starting Price: $70 per month -
24
InStoreView
InStoreView
We help you meet your business objectives with sales and stock information that mobilizes your teams. Access orderly sales and stock information in maximum detail. Know the result of your management in a few seconds and make quick decisions. Information available every day and at any time. Link your business opportunities with actions for your field team. Communicate in real time with your replenishers. Track management at the point of sale and achieve your business goals. Getting started with InStoreView is very easy! In just 7 days we will give you access to the platform with all your sales and stock information, so that you can access quickly and without cumbersome processes involved. -
25
RetailFlux
RetailFlux
RetailFlux people counting software offers both the lowest cost solution and the most sophisticated analytic technology in the market. RetailFlux people counting solutions are based on our property Artificial Intelligence (AI) technology, called FluxVision. Our FluxVision based counting solution provides best-in-class data quality with the lowest implementation cost possible thanks to its AI core. That is, regular CCTV cameras are transformed into the World’s most accurate and versatile counter devices with the help of our unique AI software platform. The exclusive features brought by RetailFlux people counters include staff exclusion, occupancy and shopping time metrics. Shopper footfall and conversion reports have become the most important metric in 21th century brick-and-mortar retail management tasks. Visitor counting numbers combined with sales figures reflect the most basic and beneficial KPI, namely conversion rate, in order to evaluate the performance of stores. -
26
Quorso
Quorso
Powering management to drive business performance. Management is slow, in-person and fragmented, making rapid, data-driven collaboration difficult. Quorso joins up management in a single tool – connecting your KPIs to your data, team and actions to power business performance. Create KPIs in seconds, then sit back as Quorso hunts through your data, finding actionable insights for each team member. Quorso helps your team deliver each action, then measures the impact so everyone learns what works. Quorso helps you remotely manage, engage and collaborate with your team – so it feels like you are on site every day. Quorso shows you how every action by every team member is improving your KPIs. Quorso boosts management productivity across every area of your business. -
27
Style Arcade
Style Arcade
The perfect product for your customer starts here. Growing fashion retailers and brands by aligning the entire business on product. We help fashion companies perfect their product offering through analytics and range planning software. Visualize, automate and collaborate on your range, in real time. Allow your team to focus on creating great product to delight your customers. See your entire range the way your customer does by country, channel, store and style. Spot your product opportunities or gaps instantly. Collaborate in real-time, with anyone, anytime, anywhere. Now your team can work in real-time together, from anywhere in the world. Connected to the most up to date changes and collaborating effortlessly. Gain back the headspace to focus on the product with automated: budget tracking, purchase order reconciliation & store size allocations.Starting Price: $999 per month -
28
Shelfgram
Shelfgram
Everything you need to understand how your company and your competitors are executing at brick-and-mortar retail. Shelfgram is the simplest and easiest way to collect and share retail photos from the field. Shelfgram's visual intelligence system comes with powerful queries to do a virtual store check just about any way you'd like to. While your home feed is a place for personalized recommendations, your following tab is exclusively filled with photos from brands, retailers, and categories you follow. Our machine learning algorithms predicts what's likely to grab a shopper's attention during their first glance to help you optimize your retail execution. We've built integrations with a number of crowdsourcing apps so that you can order the photos you're looking for on a one-off or ongoing basis. As soon as the orders are fulfilled, the photos are available on Shelfgram! -
29
11Ants Retail Insights Cloud
11Ants Analytics Group Limited
The big shift taking place in retail today is from being transaction focused to customer focused. 11Ants data insights solution helps marketing, merchandizing, and operations truly understand customer behavior to make better decisions faster. Over 4,000 stores globally are doing better today thanks to 11Ants. Retail data gold tends to be well hidden. Yet most retailers count on shallow metrics like sales, units sold and margins that reveal little. 11Ants digs much deeper. Want a new high margin revenue stream by commercializing data and insights to suppliers? 11Ants does that too. 11Ants is built for the mid-market to enterprise size retailer doing $100 million or more in revenue. -
30
Field Agent
Field Agent
Drive trial. Audit stores. Hear from real shoppers. With Field Agent's new self-service platform, brands of all sizes gain the visibility and insights they need to succeed, all at a fraction of the cost of traditional channels. Launch your first campaign in minutes, without a single phone call. The Field Agent on-demand platform connects brands, retailers, and agencies with customers across the country and around the world to help you win at retail. Our suite of fast, affordable retail-success products provides clients a distinct advantage in serving shoppers, outmaneuvering competitors, and making sales. Never lose sight of what’s happening across retail. Store audits offer instant on-site visibility. Connect with your customers when and where it matters most. Be in-the-moment with shopper insights. Create demand for your products. Digital demo and buy and try drive first purchase and help spread positive awareness.
Retail Analytics Software Guide
Retail analytics software is a type of software designed to help retailers make data-driven decisions and track performance. It provides an in-depth look at customer buying behaviors, product sales, store traffic and more. By giving retailers access to the insights they need to better understand their customers, the software can help them optimize marketing campaigns, optimize merchandising strategies and improve operational efficiency.
Most retail analytics software solutions are cloud-based, allowing businesses to access it from any internet-connected device. They typically offer a variety of features that allow users to collect and analyze data from multiple sources such as point-of-sale (POS) systems, customer relationship management (CRM) systems and web analytics tools. The software also offers custom reporting capabilities that enable users to generate reports with detailed metrics on product sales, store visits, customer demographics and other data points. These metrics can be used by business owners or managers to make informed decisions about their operations.
Some retail analytics software solutions also have interactive dashboards that provide visual representations of the collected data allowing users to quickly identify trends or areas for improvement in their supply chain management processes. This type of analysis can be extremely helpful for making informed decisions about inventory levels and pricing adjustments for particular products or services. Other features often included with these types of software include predictive analysis capabilities that enable businesses to forecast future behavior based on past patterns, as well as automated notifications when certain conditions arise related to customer feedback or changes in sales data.
Overall, retail analytics software helps retailers keep track of key performance indicators across different locations in order to identify potential opportunities for growth or improvement within their organization. By gaining insight into consumer behavior through accurate reporting and analysis, companies are able to make better decisions regarding the way they operate stores and manage inventories in order maximize profits while minimizing costs.
What Features Does Retail Analytics Software Provide?
- Automated Reporting: Retail analytics software allows businesses to generate automatically generated reports that cover key performance indicators like sales, products, customers and locations. These reports give retailers the ability to quickly identify trends and opportunities while providing a birds-eye view of their entire business operations. Reports can be customized to show the exact metrics a retailer needs in order to make informed decisions.
- Data Visualization: Retail analytics software has powerful visual tools that allow retailers to visualize their data in user-friendly interactive dashboards. This makes it easier for retailers to spot correlations and gain insights from their data in an easy way. Features such as heat maps, bar graphs and scatter plots help retailers get accurate insights into what’s happening across their stores and online channels.
- Predictive Analytics: Predictive analytics use artificial intelligence algorithms to predict future customer behavior by analyzing past patterns of customer buying habits. This helps retailers anticipate customer demand so they can plan ahead with stock levels, pricing and promotions accordingly.
- Inventory Management: Retail analytics software provides features that enable retailers to keep an eye on stock levels across all stores in real time by tracking inventory movement every day. It also helps them optimize their inventory by suggesting which products should be restocked based on certain parameters like current sales trends or seasonality factors.
- Customer Insights: Retailers are able to gain visibility into how customers interact with them – both online and offline – using retail analytics software solutions. The software tracks shopping behaviors, preferences as well as other demographic information about customers which helps retailers understand who is buying what product, when they are buying it, why they are buying it and how often they buy it, etc., enabling them to create targeted marketing campaigns effectively and improve their overall engagement strategies with customers.
Types of Retail Analytics Software
- Sales Performance Analytics Software: These tools track key metrics such as sales volume, average order size, customer retention rate, and average customer spend to identify trends and opportunities for improvement.
- Inventory Management Software: These tools monitor inventory levels and alert managers when product supply is low or when certain products are selling faster than expected. They can also help identify hidden stock-outs that might be preventing customers from making purchases.
- Point of Sale (POS) Systems: These systems collect data on each sale made at the store level, providing insight into customer preferences and purchase patterns. This data can be used to analyze individual store performance and inventory management as well as develop more effective promotional campaigns.
- Merchandising Analytics Software: These solutions capture product placement information to measure the effectiveness of displays in different locations within a store or across multiple stores. They can also analyze pricing trends on various items to optimize prices for maximum profits.
- Customer Relationship Management (CRM) Software: This type of software helps retailers understand customer buying habits by tracking interactions with customers across multiple channels, such as emails or social media posts. It can be used to create targeted marketing campaigns based on customer profiles and buying habits.
- Store Traffic Analysis Software: This type of software tracks in-store traffic patterns, allowing retailers to identify peak activity times in order to better manage staffing needs and plan promotions accordingly. It can also help create heat maps that show where customers spend the most time while they’re shopping in a store.
Advantages of Retail Analytics Software
- Greater Visibility: Retail analytics software provides an easy to view, graphical representation of data from multiple sources. This helps retailers gain visibility into sales trends, customer behaviors, and stock levels in order to make more informed decisions.
- Improved Planning: With retail analytics software, retailers can plan ahead and create forecasts based on past performance. As a result, they are better equipped to anticipate customer needs and devise strategies for future success.
- Optimized Inventory Management: Retail analytics software enables retailers to track their inventory in real-time and keep up with demand. This helps them identify which products are selling well and allows them to adjust the quantity of stock accordingly.
- Enhanced Customer Service: By combining data from different channels, retail analytics software helps retailers provide personalized service according to customers’ shopping behavior. This can lead to higher customer satisfaction and loyalty rates.
- Profitable Promotions: Retailers can use retail analytics software to analyze the effects of promotions on customer spending patterns and optimize targeted marketing campaigns for maximum ROI.
- Automated Reporting: With automated reporting capabilities provided by retail analytics solutions, retailers can generate accurate reports quickly without having to manually gather or review data.
Who Uses Retail Analytics Software?
- Retailers: Retailers use retail analytics software to track the performance of their products and services, identify customer trends, and optimize operations.
- Suppliers: Suppliers use retail analytics software to monitor customer demand and analyze customer feedback to ensure they can meet their customers’ needs.
- Marketing Teams: Marketing teams use retail analytics software to develop targeted campaigns and improve the customer experience.
- Analysts: Analysts utilize retail analytics software to uncover customer behaviors, patterns, and insights that help retailers make better decisions about pricing and promotions.
- Inventory Managers: Inventory managers use retail analytics software to automate ordering processes, keep stock levels accurate, manage returns, and track performance in real time.
- Business Intelligence Professionals: Business intelligence professionals leverage retail analytics software for predictive data modeling so retailers can anticipate future inventory needs.
- Data Scientists: Data scientists rely on retail analytics software to surface actionable insights from large sets of transactional data that can be used for strategic decision making.
How Much Does Retail Analytics Software Cost?
The cost of retail analytics software can vary widely, depending on the features and functionality that are included. Generally, prices range from a few hundred dollars to several thousand dollars annually, or depending on the payment plan, even more.
For starters, most retail analytics software providers offer basic plans with limited features that cost around $500-1,000 per year. These plans may include sales forecasting tools, customer segmentation capabilities, marketing automation capabilities and basic reports for monitoring performance.
More comprehensive plans may be available for larger businesses or those with more complex needs. These plans usually cost between $1,000 and $5,000 annually and often include advanced reporting tools such as predictive modeling and multi-channel analysis capabilities. Additionally many of these packages allow for custom dashboards tailored to your business’s specific needs.
Retailers looking for enterprise-level solutions should expect to pay even more than this amount – generally upwards of $5,000 or more per year - for a suite of services that includes AI-driven demand forecasting models and sophisticated simulations designed to identify potential opportunities.
What Does Retail Analytics Software Integrate With?
Retail analytics software can integrate with a variety of other software types to optimize the workflows. Types of software that can be used in conjunction with retail analytics include customer relationship management (CRM) systems, enterprise resource planning (ERP) systems, warehouse and inventory management systems, supply chain management tools, accounting and finance solutions, mobile commerce applications, marketing automation programs, and point-of-sale (POS) systems. Generally speaking, any software that helps manage customers or products behind the scenes is likely to provide some benefit when integrated with retail analytics.
Trends Related to Retail Analytics Software
- Predictive analytics software enables retailers to forecast customer demand more accurately and identify potential problems before they happen. This allows stores to better manage inventory levels, optimize pricing and promotions, and reduce operational costs.
- Retail analytics software can be used to track and analyze customer behavior, product sales, and other data points in order to gain valuable insights into how a business is performing. This data can be used to improve customer service, marketing campaigns, and store operations.
- Automated retail analytics software can be used to increase efficiency and accuracy by automating data collection, analysis, and reporting processes. This can help streamline tasks such as inventory management and forecasting.
- Retail analytics software can be used to optimize product assortment, pricing strategies, promotional efforts, and other areas of the business. This helps ensure that retailers are making the most of their resources while providing customers with the best possible shopping experience.
- Many retail analytics software solutions offer easy-to-understand visualizations that allow users to quickly identify trends and patterns in their data. These visualizations make it easier for retailers to identify opportunities for improvement and make educated decisions about their business.
How to Select the Best Retail Analytics Software
Selecting the right retail analytics software can be tricky. Here are a few steps to help you choose the best one for your business:
- Identify the goals of your business: Before choosing a piece of software, it is important to consider what you need it to do for your business. Ask yourself questions such as “What specific metrics do I want to track?” or “What type of insights must I gain from this technology?” This will help narrow down your software options as each platform offers different features and capabilities.
- Research available software solutions: Take advantage of technology reviews and comparisons in order to get an overview of which pieces may work best for you. Keep an eye out for features such as customer segmentation, data visualizations, and predictive analysis that could be useful for gaining valuable insights into the behavior of customers or trends in the marketplace.
- Consider usability and scalability: Make sure that any chosen tool has an intuitive user interface so that staff members can use it quickly and easily without costly training sessions or workflow disruptions. Additionally, look at whether the platform is flexible enough to scale with any changes in business processes or growth fluctuations in demand over time.
- Get feedback from stakeholders: Make sure all relevant stakeholders are involved in selecting the right retail analytics software; their feedback on each option will provide valuable insight into which one works best with existing systems, anticipates future needs, fits within budget constraints, and provides value beyond cost savings alone.
- Request demos and trials: Once you have narrowed down potential solutions based on research and stakeholder input, request product demonstrations and free trials when possible before making a final decision on which solution will meet your needs most effectively without sacrificing quality or functionality over time.
On this page you will find available tools to compare retail analytics software prices, features, integrations and more for you to choose the best software.