Your Financial Forecast
The power of Customer Intelligence analytics really comes home with the integration of multiple data streams. With multiple points of view from your stores and customers, coupled with your existing financial metrics, we can produce life-size predictive sales models.
Yes, that’s right. Predict what your sales are likely to be if you made isolated operational adjustments to the in-store experience.
Predictive Analytics is a set of custom statistical models that create a mathematical map of your stores and your sales engine. The reason so many other analytics methodologies fail to prove the tie between customer satisfaction and same store sales is that it’s an exceedingly custom, statistical and highly variable job.
There are so many factors influencing your sales. Some are out of your control. Each store has a different set of competitors nearby. They’re in different demographic and geographic areas. They are different in size. These need to be factored in to your strategy equation. But next, you need to optimize the things you can change. You can change the behaviors of your employees inside your stores. You can control your products and how/where they are offered. You can spend your operational dollars focusing on performance areas that you now know matter.
Utilizing tools like the Loyalty Lift Calculator, Market Force’s predictive analytics enables you to identify, isolate and rank those factors that you can control…then predict how changes to them will grow your bottom line. Simple things like getting your employees to recommend a product. Or greet customers when they enter. Or help them understand product features. Depending on your customer base, one thing could be driving a surprisingly high percentage of your sales (or lack thereof). The best part? We can do this for every one of your many stores.
Some of our customers call it ‘like magic.’ We call it predictive analytics.
Learn more about Predictive Analytics—click here to schedule a briefing
Find out how Predictive Analytics helped one of the largest energy and petroleum refiners in the world calculate targeted improvements for the biggest financial impact here