In an age when digital versions of retail stores become their own rivals by challenging the ease of searchability and user experience for offline customers, deeper data analytics can help in improving store design, floor plans, merchandise mix, and other localization elements.
COMPASS as a single-suite analytics tool leverages Big Data, Advanced Analytics, and AI chatbots technologies allow retailers to eliminate guesswork and recommend the most optimal promotion mix. It supports across multiples teams that handle sales, marketing, and revenue management. Data derived from multiple sources can create complexity in identifying the most performing campaigns.
The software tells which promotions work well, how much should be invested in each promotion, and so on. Advanced Analytics powered in COMPASS harnesses data to support a retailer with recommendations on the best promotion mix strategy by choosing the most appropriate promotions.