By Eduardo Kfouri, VP of Qlik for Latin America
Retail has changed. Technology has ceased to be a differential to become mandatory. The company that has not yet understood this new moment is at serious risk of getting lost along the way. The Business Intelligence that we have heard so much about in recent years is the new reality in the industry. And, believe me, a reality that is here to stay.
BI is not just another technology, support or tool. It is, in fact, a competitive differential. But he alone is not enough. It is necessary that companies know how to apply this concept with well designed and assertive strategies - totally focused on business development.
Without intelligence behind data analysis, there is no BI that has good results. This technology will not do magic alone. Today everything generates some kind of information. Social networks, email marketing, access to the website or visits to a booth during any event. The data is too much. The possibilities? Even bigger. But the challenge is to turn them into something relevant for retail.
Investing in strategies that involve BI in this segment becomes even more important in times of economic recession. And, we cannot deny, we are in a moment of instability. Both companies and people started to reconsider investments and expenses. The CNC (National Confederation of Trade in Goods, Services and Tourism) indicates that sales during the Christmas period are expected to fall 4.1% this year. Retailers need, more than ever, to captivate their customers, to reinvent themselves.
And pleasing the consumer, we know, has never been easy. More than selling your product or service, you need to offer a good experience. Enchanting the consumer from the time he meets your store, both in the physical and virtual worlds, until he leaves, whether he buys or not. And it's no use just serving the coffee, the glass of water ... Or putting banners and beautiful colors in your e-commerce. We are, perhaps, the most demanding generation of all time!
Consumers are more connected, there is no more difference between on and off. And if you still don't believe in that, better to switch branches. The customer knows your product in the store, does a lot of research online and then buys it through e-commerce. That, if he really buys from you. And vice versa. There are no more rules. It's the omni-channel.
Retailers need to integrate all of their physical stores with virtual ones and, moreover, with their buyers. Only then will it be possible to explore, not only all the possibilities of interaction, but also the data generated by these contacts. But the zero moment of this strategy, contrary to what many think, is not to collect as much data as possible. The secret is to identify what is worth analyzing.
Do not try to explore everything, it is not necessary. And you will still spend time and money. Intelligence begins with discovering what to look at. What information crossings do you have to have truly strategic information? Only then will it be possible to find out what your consumer likes. How does it interact with your brand? How does it behave? How to please him? What will your next purchase be? This can be the basis for turning a transaction into a relationship. And that's just the beginning. Think of good questions, only they will give you good answers… And sales!
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