Gareth Jordan, Director, ART Software Group
New tools and practices are redefining retail, but as technology advances and the pool of data available expands, the goal is not to remove humans from the equation but to empower them.
There has rightly been a huge push to deliver a connected customer experience. Our solution, Retail Advantage, expands this concept, communicating and sharing live information to create connected stores that support retail efforts. The aim is to help create a community where asset managers, shopping centres and outlets can work together with retail brands to get the best performance fuelled by up-to-date information.
Our experience shows that businesses benefit by expanding access to data, with views and insights tailored to different roles. From corporate-level analysis covering multiple retail sites, units or geographies, to day-to-day operational reporting, access to analytics at the right time and in the right format for different users is invaluable.
Today we understand the value of data, which makes it even more frustrating when it is not processed properly and cannot live up to its potential. By connecting different data elements and making these more widely available, you can provide answers about progress through correlations – behind all sorts of questions. This includes visitors, rental and lease information, category mix, hot spots, promotions, and external factors such as weather.
Imagine if, instead of sifting through data, you could focus more energy on putting in-place strategies that genuinely reap the highest return.
ART Software Group has been working with strategic analytics in retail since 2006, and using this experience created Retail Advantage – software that has been developed with a deep understanding of the industry and what information makes a difference.
As the future of retail unfolds and we continue to shape the spaces we live in, network and play, it will become increasingly important to measure success in new ways. Data will drive this and inform us as we innovate and experiment.