IT Giant Oracle announced the launch of its new product called Oracle Retail Customer Analytics recently. This is a BI solution aimed at retailers, to help them get better insights about the buying habits and behaviors of their customers. To drive sales and improve their margins, the category managers, purchase managers, merchandise managers and pricing analysts of a company need to have access to specific information like the product affinity, the demographics of the buyers and marketing information. This analysis tool will give them access to all these details, and more, to help them make informed decisions.
In addition to that, Retail Customer Analytics also helps retailers in getting answers to important questions about what drives the customer to buy. Some of these include details about the sales of the product in a particular region or in a specific attribute group, performance of marketing promos, most attractive features of the products, and most valuable customer segments the company should look at.
The analytics tool also consists of 10 dashboards with major performance indicators. The features of this analytics tools are designed in such a way that enables retailers to understand and adapt to market trends and customer preferences in little time. The Retail Customer Analytics tool is a part of Oracle’s family of retail analytics applications, and also supports the Retail Merchandising Analytics solutions developed by the company. Another advantage is that it can deliver the reports in different file formats, which are compatible with PCs as well as mobile devices.
Considering the many benefits that this new tool has to offer, it is essential that companies in retail industry consider oracle training courses for their employees at the managerial level. The Oracle Retail Customer Analytics is one of the best business intelligence tools for business owners today. Using this tool, business owners can reduce their dependency on analysts and other professionals for learning about their customers and improving their sales.