RetailVista offers extensive reporting and detailed statistics. However, to fully harness the power of all available data, a BI (Business Intelligence) solution is essential. BI software is designed to analyse data and support business decision-making. You might have heard or read about Power BI software. To connect RetailVista with BI, we have recently entered into a strategic partnership with KPI Solutions (https://kpisolutions.nl/). They have already developed retail dashboards for several of our clients, and recently, a large organisation has chosen to connect all its branches to Power BI.
BI Background Info
The great advantage and power of BI lie in data combination. RetailVista contains approximately 500 different data sets, and combining them in every possible way results in about 250,000 combined data points. We admit, that’s a bit too much. But start with simple combinations like sales and staffing levels, or combine revenue with purchasing and inventory. Or consider identifying trends in all your customer orders… The possibilities for data combination are endless, but this can also risk information overload. For this reason, we gladly share our insights for effective BI reporting. Over the past years, KPI Solutions has developed a standard retail dashboard that serves as a starting point for beginning with BI. You’ll find that answering one question often leads to another, allowing you to grow gradually (or rapidly!) into a BI environment that helps you make informed decisions.
KPI
Business owners are always busy. So, staring at a screen all day to see how your company is doing is not going to happen, and we understand that. In the BI world, the concept of ‘KPI’ (Key Performance Indicators) was developed. With KPI metrics, you set the margins within which something is good or not. When a report goes beyond the set KPIs, you can be informed automatically. If everything is fine, all KPIs are green, and you can devote your time to other important matters. If a KPI indicator turns yellow or even red, you can be automatically notified to take action.
What Can We Do with BI for You?
For us, BI is an opportunity to demonstrate how the right software can unlock valuable data from RetailVista to gain better insights. We employ our new software integration with Azure to ensure that the necessary data is hosted on an Azure platform in the cloud. We then offer KPI Solutions technical support and explain how the RetailVista data is structured, ensuring that BI results match those from RetailVista reports. Various safeguards ensure that the data in Azure is correct and corresponds with the original data from RetailVista.
If you want to learn more about BI, please contact us. Together with our new partner KPI Solutions, we can share more information and practical examples of what BI can mean for you. We are also keen to hear your thoughts on using BI. Are you ready to take on the challenge?
