Benefits of using Business Intelligence in Retail

The role of BI or Business Intelligence in retail growth is crucial in today’s challenging market. Business intelligence works on your data to provide actionable insights, and it helps you make data-driven decisions. In the retail business Dynamics 365 Partner in UAE, customer data can be used to gain a better understanding of customer patterns, preferences, and trends. It is used not to beat competition, but also to target new markets, and to identify which products or services are selling and which are not. Business intelligence solution in business is essential to work towards your retail business goals.

Your business will have to manage a huge amount of information – from supplier information to customer buying behavior, marketing data to inventory information. So, every data you come across is the door to more opportunities in Dynamics 365 Partner in UAE. This can help your retail business be more successful, reliable, and sustainable.

Why is business intelligence important for your business?

Retail business is growing at a fast pace. To stay relevant in the competitive market space, you must use your customer data effectively.

E-commerce provides many options for customers to interact with. Business Intelligence analyzes data from each customer interaction with e-commerce stores. This information can be used to deliver better customer shopping and service experience. For example, recommendations a customer receives based on recently viewed products.

Business intelligence helps you identify customer trends and behavior based on the historical and current data. This data which is available in real-time allows you to rapidly adjust prices or alter any product offerings.

Stock between online store and in-store stock can be balanced, as well as provide effective shipping options (buying online and picking up in-store) using business intelligence. You can ensure enough inventory in your physical store with the proper balancing of inventory.

Moreover, leveraging business intelligence solutions will help you get the information on when your products will run out. This enables you to place new orders before the existing stock expires and make better merchandising decisions. The enhanced access to business data and customer data helps you create a consistent experience across all channels.

 

Key benefits of utilizing Business Intelligence

With Business Intelligence, you can identify where a customer’s physical location is and how customers find their products – through emails or referrals?

You can use business intelligence data to provide personal experiences. The personalized experience will increase customer loyalty and lead customers to visit again.

Business intelligence helps you gain insights into business operations – from arranging to packing to final delivery of the products.

Retail business intelligence enables you to manage your marketing campaigns. You can see whether customers are reading emails, clicking on marketing links etc.

You can better understand your customer’s needs, wants and desires. Build relationships with customers whom you are connected with. Building strong relationships will increase customer retention and growth.

With business intelligence you can maximize profits while retaining customers. An increase in the consumer retention rate will lead to an increase in profits.

Business intelligence allows you to analyze social media trends to know your product movement in the market. You can access this information to sales and performance of certain products and brands.

Business intelligence can also recommend products based on previous buying patterns.

Transform your retail operation with Microsoft Power BI

Know your customers and effectively connect with them using Microsoft Power BI. With Power BI, you can get the visibility into customer patterns, and purchasing forecasts, as well as helps you make enhanced decisions. Power BI comes with the powerful tools that empower your employees to deliver personalized experiences to customers.

Power BI enables employees to create actionable insights in real-time using familiar tools. These real-time insights will help you create a more collaborative environment where teams across departments can share data to improve sales, marketing, and growth. if you long to boost your retail agility regardless of market changes and challenges, it makes sense to integrate Microsoft Power BI into your retail business.

Leading companies worldwide are leveraging Microsoft Power BI to increase productivity, understand customers, and build a digital foundation. The fifth-largest dairy company in the world, takes advantage of Microsoft Power BI to power its retail operations.

If your business is based in the UAE, Saudi Arabia, Qatar, Oman, Bahrain, Jordan, or anywhere in MENA region, you can collaborate with the trusted Microsoft Dynamics 365 partners there.

Their professional Dynamics 365 consultants would have a comprehensive understanding of your requirements which they will utilize to power your retail business with Microsoft Power BI. They also provide guidance, support, and training throughout the implementation phase.

Get expert guidance from the Microsoft Dynamics Partner UAE , Saudi Arabia, Qatar, Oman, Bahrain, Jordan, or anywhere MENA region.