Retail Analytics Software
These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.
TIBCO Spotfire® is a data visualization platform that utilizes predictive analytics. In addition to data viz, it includes data wrangling capabilities, predictive analytics, location analytics, and real-time streaming analytics.
Tableau Desktop is a data visualization product from Tableau. It connects to a variety of data sources for combining disparate data sources without coding. It provides tools for discovering patterns and insights, data calculations, forecasts, and statistical summaries and visual…
BOARD is a business decision-making platform for organizations of any size. BOARD hosts several business modeling, planning, and analysis all in one cloud-based platform.
ThoughtSpot is an analytics platform that enables users to leverage natural language search and AI to find data insights and tap into the most cutting edge innovations the cloud data ecosystem has to offer. The vendor states companies can put the power of their modern data stack…
Looker is a BI application with an analytics-oriented application server that sits on top of relational data stores. It includes an end-user interface for exploring data, a reusable development paradigm for data discovery, and an API for supporting data in other systems.
Sisense is a BI software and analytics platform. With what the vendor calls their In-Chip™ and Single Stack™ technologies, users have access to a comprehensive tool to analyze and visualize large, disparate data sets without IT resources.
MicroStrategy Analytics is an enterprise business analytics and mobility platform. Key features include automatic big data analysis and reporting, data discovery and visualization, digital security credentials, and support for mobile devices.
Lightspeed Retail is a retail PoS system from Lightspeed headquartered in Quebec. Core retail POS features are expanded on higher service tiers with ecommerce option and payments gateway, an accounting system, and a customer loyalty program.
Purple WiFi in the UK offers wi-fi hotspot technology.
Vancouver-based IQmetrix offers their retail management system (RMS), supporting the telecom industry with point-of-sale (PoS), inventory management, CRM, and other features.
DataWeave is a digital commerce analytics SaaS platform that enables consumer brands and retailers to grow revenue and margins across online channels, from the company headquartered in Bangalore. DataWeave's revenue optimization solutions help them expand market share and compete…
Epos Now, headquartered in Norwich, offers their cloud-based point-of-sale software and integrated hardware systems, configurable to meet the needs of retail and hospitality and available for a single up front payment or at a monthly cost.
The InsightSUITE is an Experience Management (XM) platform from First Insight in Warrendale, Pennsylvania, that enables companies to incorporate the Voice of the Customer into the design, pricing, planning and marketing of products and service offerings. Through online consumer engagement…
TCS Optumera™ AI-powered retail optimization suite, helps to optimize merchandising and supply chain decisions in an integrated manner. Retailers have seen 3-5% increase in sales, ~50% reduction in time spent, 5x more strategies and 20-30% reduction in costs.
HSC’s Intelligent Monetization Platform (IMP) Intelligent-Monetization-Platform-ViewHSC’s Intelligent Monetization Platform (IMP) is a system that focuses on delivering measurable outcomes to brick-and-mortar retailers, such as increasing footfall and increasing conversion rate. IMP…
People Flow Management, in short PFM, aims to provide its clientele with accurate, consistent and reliable people flow data and insights. In a world where change is common place and the habits of Shoppers are affected so dramatically by the Covid 19 virus, it is more vital now…
RetailNext provides retail analytics for brick-and-mortar retail, delivering real-time analytics that enable retailers and manufacturers to collect, analyze, and visualize in-store data. The solution uses video analytics, Wi-Fi detection, on-shelf sensors, and data from point-of-…
Lepton Software is a Location Analytics, Map Data and Geospatial consulting practice with more than 25 years experience across multiple business verticals such as Telecom, FMCG, Logistics & Transportation, Govt, Retail, IT, and Automotive, headquartered in Gurgaon. They provide GIS…
Fobi drives personalized engagement through new channels by connecting data across online and on-premise platforms. Fobi’s IoT devices and insights Portal, as well as their coupon platform and wallet passes, integrate into a company’s existing infrastructure, to help companies across…
SPS Commerce Analytics is designed to help the user uncover actionable insights. The solution collects, cleans and uses sales and inventory data across multiple retail customers. SPS boasts a proven process, team of experts, retailer partnerships and technology designed to make analyzing…
Numerator TruView (formerly InfoScout Insights) is a business and marketing analytics and intelligence platform providing shopper profiles and customer segmentation, omnichannel (e.g. physical store and ecommerce store) sales and receipt analysis, promotion and sale success analysis,…
Austrian software company NTS Retail offers their retail management solution to telecoms, with multi-channel order and fulfillment management, customer engagement, and other business support functions.
Wiser Solutions headquartered in San Mateo offers pricing intelligence and optimization for ecommerce.
What is Retail Analytics Software?
Retail analytics software tracks and analyzes inventory, consumer demand, and sales data.
Customer behavior and sales trends analytics promote better business planning and decision-making. This type of software provides insights that help evaluate a business’s merchandising strategy, informs their marketing campaigns, and optimizes production/procurement, inventory management, and supply chain operations.
Predictive retail analytics helps businesses predict future demand, identify emerging trends, and anticipate customer needs. Recognizing those opportunities gives retail businesses a competitive advantage. Retail analytics software supports improved targeting for marketing operations and provides feedback for product development.
For business owners, retail analytics can help identify and retain your best customers. It provides key insights around bestselling items, the busiest time of the day, week, and year, and allows businesses to quickly adjust to changing retail environments.
Retail analytics software can include geo-special analysis for store layout optimization, fraud detection analytics, analytics to automate merchandising decisions, and support dynamic staffing.
Comprehensive retail analytics software solutions will capture retail data from both brick and mortar and eCommerce retail operations.
Retail Analytics Software Features
Most retail analytics platforms will provide the following features:
Supply chain analytics
Data collection/integration with retail pos, retail management, and retail operations systems, captures data across all channels.
Action triggers and alerts for dynamic price setting
Dashboard, data visualization, and reporting
Cloud-based and mobile options
Retail Analytics Software Comparison
Consider the following when purchasing retail analytics software:
Scope: Certain products may focus on brick-and-mortar retail analytics, eCommerce analytics, or both. Select a product that best suits your retail analytics goals.
Features: In addition to the foundational retail analytics categories of sales, inventory, and customer behavior, choose a solution that readily supports the additional analytics that you require. These may include predictive analysis, floor-plan optimization, or price optimization.
Industry: Some vendor products are tailored to support specific industries such as fashion/apparel, restaurants, or electronics.
Integrations: Ensure that the product readily integrates with your other retail systems for obtaining the data that is necessary for wide-ranging and comprehensive analytics.
Entry-level pricing begins at around $99 a month. However, most products require a vendor quote, especially for enterprise-level products.
Frequently Asked Questions
Some of the key benefits of using a retail analytics platform include:
- Increased Sales: Insights that anticipate customer demand, optimize promotional strategies and product pricing and establish the timing of product availability help maximize sales opportunities.
- Improved Marketing: Improved customer targeting based upon behavioral and sales analytics.
- Better Inventory Management: Predictive analytics helps align demand with supply, optimize inventory management, and reduce waste and associated costs.
- Enhanced Customer Loyalty: Understanding customer behavior and preferences allows businesses to improve their customers’ experience.
- Optimizes In-store Operations: Analytics helps refine product placement, optimize staffing needs, and improve service delivery.
- Better Decision Making: Retail analytics improve decision-making for procurement, marketing, and merchandising.