Why POS Resellers Should Sell Data Analytics

Interest in AI-generated insights has never been higher. Don’t miss the opportunity to meet this demand.

Data Analytics

Retail data analytics allows your customers to turn information into higher revenues. It facilitates personalization, which nine out of ten consumers say influences their purchasing decisions. Insights from retail data analytics also help businesses refine their operations to meet shoppers’ demands, and when retailers provide experiences consumers want, it translates to greater loyalty and more revenue.

Because analyzing data and using the insights has measurable benefits, it’s a top priority for 69 percent of companies. However, retailers may lack the skills necessary to collect relevant data, prepare it for analysis, and make insights available to employees so they can use it to enhance their job performance. You have the opportunity to grow your business by providing solutions and services that can transform raw data into actionable intelligence.

What Retail Data Analytics Solutions Can Do for Your Clients

One of retailers’ most common objectives for implementing data analytics is customer engagement. As many as 41 percent of business leaders say acquiring new customers is their top goal for data analytics. Using data to personalize and target marketing is the priority for another 36 percent.

Artificial intelligence (AI) can take retail data analytics to a new level. In addition to tracking sales and inventory trends in real time and providing information on how promotions are performing, AI can give retailers even more insights. AI can perform sentiment analysis on customer feedback to determine whether customers have a positive or negative feeling about certain products, services, or brands. Retailers can also leverage AI to perform root cause analysis to understand why trends or consumer behaviors change. AI can also help retailers forecast more accurately to prepare them for demand increases or avoid overordering.

Real-time retail data analytics also increases a business’s agility, allowing it to react quickly rather than waiting days or weeks for insights, which can result in missed opportunities. Generative AI solutions that offer “ChatGPT-like” experiences make data analytics insights easily accessible to all employees. Powered by natural language processing (NLP), large language models (LLMs), and other linguistic capabilities, users can ask questions in natural language, and the GenAI solution provides easy-to-understand answers.

Share Benefits of Retail Data Analytics with Decision Makers

Your clients are probably aware that data analytics can benefit their businesses. Still, they may lack clarity into how it can benefit them in specific use cases and where their best investments will be. Furthermore, make sure your sales process includes all decision-makers; for example, retail data analytics enables:

  • Merchandise planners to track sales and inventory levels in real time, allowing them to forecast demand more accurately
  • Brand managers to get unprecedented insights that help them understand customers and their perceptions of various products, which can influence product development and marketing
  • Operations personnel to analyze traffic patterns in stores and plan for optimized staffing levels, with the number of paid staff on the floor right-sized to minimize labor costs while still providing customers with a superior experience
  • Omnichannel marketers to see how marketing efforts are performing across channels and provide company-wide inventory visibility
  • Warehouse managers to gain increased visibility into inventory and dramatically reduce stockouts

Retailers Are Ready for Solutions

Retailers collect, use, and interact with massive amounts of data. However, only 14 percent of company executives think their organizations have reached a point where their data is synchronized across functions in a way that will provide maximum value.

Your prospects are open to hearing how you can help them overcome challenges and make data analytics and AI work for them. Build your skills, network, and partnerships to provide the retail data analytics solutions your customers are looking for.