Quickly setup performance measurements tools that follow the seasonal nature of the business.
Accurate definition of the catchment area involves knowledge of the topography, the drive-timezone and competition.
Purposeful mall-space allocation, balanced shops typologies and rental levels reveal the optimal tenancy mix.
Social media integration into your customer app helps build an online community for your shopping centre.
Decision-makers want to see analytics presented visually, so they can grasp the difficult concepts or identify new patterns.
User Friendly Retail Data Analysis
Using Predictive Analytics to Make Your Data Actionable
Predictive analytics become actionable when insight is incorporated into operational processes. Businesses do not just need the power to know; they need the power to act. By using predictive models to assess and anticipate needs, risks and aspirations, organizations are able to provide next-best-action recommendations during customer interactions in real-time, either in-person or through self-service interactions.
Predixit offers a wide range of insights that span from standard report to sophisticated business optimization, applying the most advanced data modeling techniques to data collected from the customer behavior and business repository. Below we highlight some of those that Insight categorized according to their value and complexity:
These provide answers to the question: “What happened?”
Standard reports usually have a fixed format, are parameter-driven and, in their simplest form, are pre-run. Standard reports provide a core set of information about what’s going on in a particular business area – sounds dull, but these reports are the backbone of BI applications. Examples from different industries include YTD sales versus forecast by sales rep, monthly churn rate by service plan and response rates by promotion by product.
This provides answers to the question: “What is happening?”
Statistical analysis is the science of collecting, exploring and presenting large amounts of data to discover underlying patterns and trends. It involves collecting and scrutinising every data sample in a set of items from which samples can be drawn.
These provide answers to the questions: “How many?”, “How often?, “Where?”
Ad hoc reports are sometimes referred to as demand reports. Ad hoc analysis may be used to create a report that does not already exist, or drill deeper into a static report to get details about accounts, transactions, or records. The process may be also used to get more current data for the existing areas covered by a static report.
This provides answers to the question: “What if these trends continue?”
Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. It refers to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Usage can differ between areas of application: for example, sales managers may want to know future revenue volumes while marketing managers may want to know conversion rates on campaigns.
Query drill down
This provides answers to the question: “What happened?”
You can drill down within a report that is run from the actionable insight center to find out what exactly happened in a specific context. When groups of data items from different sources are linked, data may reveal hidden information that is not evident from the previous reports.
This provides answers to the question: “What will happen next?”
By using predictive models to assess and anticipate needs, risks and aspirations, organizations are able to provide next-best-action recommendations during customer interactions in real-time, either in-person or through self-service interactions. Such powerful capabilities enable businesses to reduce churn by addressing customer needs, or to assess risk moving forward.
These provide answers to the question: “What actions are needed?”
Alert actions help you respond to triggered alerts. Enabling one or more alert actions, systems are configured to link events to actions, for example:
Sending promotion notifications when a specific type of consumer is entering the mall
Raising the security alarm when a potential danger is recognised.
This provides answers to the question: “What is the best that can happen?”
You may no longer be content with accepting lesser results than you’re entitled to for your efforts. Instead, you demand and accept nothing less than the highest and best outcome for every action you ever take and every activity you ever engage in. You do this by analysing what the consequences of your possible strategies are and evaluating which, among several, is the best scenario for you. It enables you to choose the one which achieves the optimum outcome and getting the greatest return for the least expenditure of time, effort, human resources and money, at the lowest possible risk to you while reducing stress, freeing you up, and providing for consistent control and total predictability.