Creating the nerves for retail organs – Retail data management 101

With technology evolving, and the extensive use of internet has given birth to cloud systems. Cloud systems have recorded a heavy growth in the past couple of years. Analytics is one of the main categories where SaaS products have seen a widespread  growth. Because of its usability, low maintenance, and cost-effectiveness, cloud retail systems (POS, ERP, eCommerce etc) have seen an exponential growth.

With huge data being recorded on a day to day basis retailers face a challenge of organizing, transfer and analyzing  the data as per their need. While many retailers prefer to create efficient reports in a manual way which turns to be a painful and time-consuming job. Other simply ignore to create smart reports which usually affects their decision making for the business. Due to unavailability of data sync platforms, many brands and retailers are finding it hard to move to these cloud systems because of their historical data recorded in their traditional on-premise systems. This also creates a blocker for syncing data across multiple systems used in an enterprise like POS, eCommerce and ERP systems which when efficiently used provides data transparency on all levels of the business.

The introduction of omnichannel concept has led retailers to go on a hi-paced growth. Retailers are sourcing and selling goods on multiple channels like e-marketplaces and multiple storefronts. Handling multiple channels and storefronts at the same time and having transparency of customer data, product data, inventory available and invoices across all requires time and workforce. This always results in an increase in overhead costs and a decrease in operating margins.

Business owners and managers need leverage cloud systems, the option of integrating with a large number of add ons and plugins which when used efficiently will lead to an increase in productivity. There are multiple products out in the market which make the data transfer from traditional systems to cloud systems seamless. The next important aspect to this is analysing the data as per the business requirement.

Business owners and managers when having a consolidated look at their products, customers, sales and inventory matrices over a period of time help them to make effective decisions. It becomes very easy for them to schedule a report at the end of the week and have consolidated stock order, customer sales or in transit reports which have been missing from most of the top rated retails systems.


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