Analytics about your retail

Analytics about your retail

The psychoanalyst studies his patients defining variables, the same applies for analytic interpretation.

Try to think of it as a psychologist thinks about his patients.

5 things that you have to do to for a better understanding of: 

  1. Your customer can lie. The trouble with some qualitative solutions like polls is that the customer can be excessively  polite or descriptive about their experience. Use tools that help you monitor  your customers carefully and measure their behavior.
  2. More than meets the eye.  Retail analytics told you who, when and where, but more than that you have to figure out why. Why are your customers in one place   rather than another ?Why do I have customers, but not new clients? Henry Ford used to say that if he asked  their clients what did they want, he would have had to run for a faster horse. Just watch the aspects that are strategic  even for your customers.
  3. Define variables. Establish which will be your observation variables: Age, time, conduct, products and promo.
  4. Conduct transformation. Now, try your strategy and define which behavior do you want to change, get better or disappear. Use your variables to  reach your  goal and evaluate your customer’s reactions.
  5. Experimentation is key. Try with promo and create your own context to  attract  the people that you want. Observe how it’s behaviour evolves   is that what you were expecting,does it work?

Your social skills are the most important thing when analyzing the data, and remember it makes a difference when you have a psychologist, philosopher or sociologist in your team as they can make a deeper analysis of your metrics.