June 22, 2020
Many retailers are suffering from data paralysis, the reality is that simply having a substantial amount of data does not actually change the way the organization runs. In order for retailers to make the most out of their data, there must be a mindset change from the strategic insight and planning teams. Secondly, there needs to be a behavior change from the broader organization.
Establishing a data-driven mindset is key! Providing training and resources that allow them to be comfortable use insights and data as part of their daily work. Teams must be accustom to making decisions and adapt their processes based on data rather than intuition. We use computer vision to transform elements of the visual merchandising that were once considered an art form into a science.
Does your company have the right tools and talent to be an insight-driven organization? In such a challenging retail environment, most companies would be well served to not centralize all their analytic capabilities into one team. Instead, cultivate a wide variety of people throughout the organization who are capable of translating the data. This approach ensures that there are more people who are trained in insights and analytics can provide input where it matters. The more you can democratize both the understanding of the consumer throughout your organization as well as what needs to happen next.
Retailers need to adopt data-sharing processes that ensure the most relevant information is transferred from department to department. Aura Vision's role-based weekly reports push store performance data out in multiple directions, ensuring that the right data is reaching the right people.
Aura Vision is a transformational technology that is changing the way retailers manage and operate their stores. If you would like to learn more please get in touch via firstname.lastname@example.org