In the retail industry, it is essential to have a good handle on your inventory. This can be difficult if you are juggling spreadsheets and manual data entry. That’s why we’re going to cover four of the best productivity tools for retailers! These tools are easy-to-use, mobile-friendly, and will help you run an efficient retail business.
- Invoices and Receipts from Zoho Books. This tool is a part of the full cloud accounting solution. You can create invoices, manage your cash flow, send receipts to customers–all in one place! And you don’t need an accountant for setup or ongoing management (though that is available too).
- Data Entry Software by WaveApps. Do all of your data entry tasks with this software-as-a-service app like entering orders on inventory and shipments from vendors. There are also features for scanning barcodes and managing multiple locations as well as employees, sales reps, or franchises.
- Employee Scheduling from Kronos. This is a web-based software that you can use to schedule employees and manage their time off, track attendance, and more.
- Expense Tracking with Xpenditure . Track your business expenses by simply keeping all of your receipts in an online folder or using the mobile app on your phone!
Big Data Analytics in Retail Industry: Solutions
Retail is one of the most important segments of the economy and currently, many players are trying to explore its potential in a different way. As the digital revolution changed all industries and retail was no exception, big data analytics solutions emerged.
With these solutions in place, businesses can now start to leverage their big data sources and analyze information in unprecedented ways. What’s more, retailers have a chance to take advantage of this new opportunity by integrating big data analytics with their businesses.
A few examples:
- Store sales performance which can be analyzed to identify specific market trends for a geographical area or individual store.
- Personnel evaluation based on customer feedback collected from mobile apps by using sentiment analysis tools such as NRC or IBM Watson.
- Store layout optimization based on the customer’s experience with predictive analytics solutions such as Google Maps and Apple Maps.
- Customer segmentation by using in depth data about their purchases, browsing habits of specific products, time spent in store etc.