Is it time to shelve same store sales metrics?

Retail

Is it time to shelve same store sales metrics?

Commerce is changing at a record pace. So shouldn’t the metrics be changing commensurately? Wall Street may love looking at same store sales to determine success, but as customers do their shopping through different channels, the entire model of tracking same store YoY for just one channel is starting to seem a bit inaccurate, if not downright wrong. Let’s examine the current landscape. Three large trends dominate the retail industry: Large, established retailers continue to languish in a ballooning middle, where they face ongoing struggles and possible extinction (Sears, Kmart and JC Penney are several examples). Retail store sales at physical locations are faltering Ecommerce is expanding and forcing out brick and mortar counterparts by grabbing larger market share. Yet even as these trends continue,…

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Manufacturers, here are 4 ways that using BI software can increase your productivity

Manufacturing

Manufacturers, here are 4 ways that using BI software can increase your...

You know how the right tool for the job makes the difference. BI software is that tool. When it comes to boosting productivity for your manufacturing enterprise, it makes a significant difference. Not only does it keep your productivity discussions focused on fact-based, data-driven research, but it also encourages team members to share their broader expertise and provides clear-cut, actionable recommendations for your business. Here we’ll explore four main ways you can use business intelligence software to push your productivity to the next level: Measure it so you can manage it: If you’re not tracking your throughput, YoY sales, sales by customer, or other important metrics, how can you even begin to improve them? To enhance your performance you must first benchmark your starting figures….

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Co-Browsing: Five Ways to Leverage this Trend with BI

Retail

Co-Browsing: Five Ways to Leverage this Trend with BI

We’ve all heard the news: e-commerce is going to be the downfall of the retail industry. And while online shopping is definitely going to be a major part of how people make purchases in the future, this doesn’t have to be the doomsday scenario you might be imagining. In fact, leveraging trends like co-browsing can actually be a way to increase your profits using habits that online shopping has created. To give you a brief breakdown of this term, co-browsing, or collaborative browsing, is when two people are navigating on a website simultaneously. Whether that be with a sales representative using a chat box, a voice or video call, or even screen sharing, co-browsing mixes the convenience of online shopping with the experience, and responsiveness,…

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Using Data to Optimize Your Fertilizer Use: 4 Things to Keep in Mind

Agriculture

Using Data to Optimize Your Fertilizer Use: 4 Things to Keep in Mind

A lot of things can have an impact on your crop yields — from the sun and rain to pests and disease. But research shows that 30 to 70 percent of your yield is the result of proper fertilization. Sometimes the instinctual response to this knowledge would be to apply more fertilizer. After all, more nutrients in the soil should equate to a higher yield. However, not only is this not cost effective, but there is also a dynamic relationship between the fertilization efficiency and maximum crop production. Finding this balance can be a key to your success. So, how do we get there? One way to start making smarter decisions with your fertilizer is by investing in a Business Intelligence (BI) solution. BI software…

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