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Retail Analytics Software


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NetSuite logo
 
NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
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NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
 
Revel Systems logo
 
Revel is a cloud-based business platform that integrates operations and customer channels with point-of-sale (POS) functionality in a single dashboard. It is suitable for stores and restaurants of all sizes and provides users with... Read More
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Revel is a cloud-based business platform that integrates operations and customer channels with point-of-sale (POS) functionality in a single dashboard. It is suitable for stores and restaurants of all sizes and provides users with... Read More
 
Lightspeed Retail logo
 
Lightspeed Retail is platform-agnostic, point of sale solution that can be accessed anywhere, at anytime. Lightspeed OnSite is a server-based, retail management solution exclusively for Mac and iOS. Both allow retailers to unify inventory,... Read More
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Lightspeed Retail is platform-agnostic, point of sale solution that can be accessed anywhere, at anytime. Lightspeed OnSite is a server-based, retail management solution exclusively for Mac and iOS. Both allow retailers to unify inventory,... Read More
 
Epos Now logo
 
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
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Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
 
AmberPOS logo
 
Pacific Amber’s AmberPOS offers a point of sale software solutions to a variety of retail specialties, ranging from small to midsized, in the United States and Canada. In addition to point of sale functionality, AmberPOS includes... Read More
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Pacific Amber’s AmberPOS offers a point of sale software solutions to a variety of retail specialties, ranging from small to midsized, in the United States and Canada. In addition to point of sale functionality, AmberPOS includes... Read More

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Springboard Retail logo
 
Springboard Retail is a web-based retail solution designed for multi-channel and multi-store retailers. Springboard’s point of sale system is fully accessible through any modern web browser on any device. The solution is designed... Read More
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Springboard Retail is a web-based retail solution designed for multi-channel and multi-store retailers. Springboard’s point of sale system is fully accessible through any modern web browser on any device. The solution is designed... Read More
 
COMCASH Retail ERP logo
 
COMCASH ERP is a complete retail management system ideally suited for multi-channel and multi-location retailers. The software is cloud-based, allowing access to the administrative functions from anywhere on any device. The Point... Read More
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COMCASH ERP is a complete retail management system ideally suited for multi-channel and multi-location retailers. The software is cloud-based, allowing access to the administrative functions from anywhere on any device. The Point... Read More
 
AIMsi logo
 
AIMsi is an end-to-end point of sale management solution that can be used in any retail environment. With multiple integrated features, AIMsi is a complete business management suite that provides POS, accounting, inventory tracking... Read More
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AIMsi is an end-to-end point of sale management solution that can be used in any retail environment. With multiple integrated features, AIMsi is a complete business management suite that provides POS, accounting, inventory tracking... Read More
 
Rapid Bev POS logo
 
Rapid Bev POS is a point-of-sale solution that can be deployed on premise or accessed through the cloud. It's designed to meet the needs of liquor stores, wineries and breweries, with features to track product attributes, ratings and... Read More
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Rapid Bev POS is a point-of-sale solution that can be deployed on premise or accessed through the cloud. It's designed to meet the needs of liquor stores, wineries and breweries, with features to track product attributes, ratings and... Read More
 
RetailSTAR logo
 
RetailSTAR POS Software by CAM is an on-premise POS solution for specialty retail shops such as clothing stores, shoe stores, sporting goods retailers, gift and hobby shops, and health food stores. RetailSTAR targets small to midsize... Read More
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RetailSTAR POS Software by CAM is an on-premise POS solution for specialty retail shops such as clothing stores, shoe stores, sporting goods retailers, gift and hobby shops, and health food stores. RetailSTAR targets small to midsize... Read More

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NCR Counterpoint logo
 
The NCR Counterpoint solution includes an e-mail marketing tool, integrated e-commerce, mobile alerting, built-in gift card and customer loyalty programs and hardware specifically designed for the retail environment. The NCR Counterpoint... Read More
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The NCR Counterpoint solution includes an e-mail marketing tool, integrated e-commerce, mobile alerting, built-in gift card and customer loyalty programs and hardware specifically designed for the retail environment. The NCR Counterpoint... Read More
 
Cash Register Express by pcAmerica logo
 
Cash Register Express (CRE) by pcAmerica is an integrated point of sale solution for retail stores and quick-service restaurants. CRE offers inventory management, customer loyalty, time cards, permission levels, advanced reporting,... Read More
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Cash Register Express (CRE) by pcAmerica is an integrated point of sale solution for retail stores and quick-service restaurants. CRE offers inventory management, customer loyalty, time cards, permission levels, advanced reporting,... Read More
 
Cybex Enterprise Retail Suite logo
 
Founded in 1986, the retail software suite from Cybex includes point of sale, inventory management, distribution and replenishment, warehouse management, CRM, and e-commerce. The Cybex Enterprise Retail Suite focuses on information... Read More
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Founded in 1986, the retail software suite from Cybex includes point of sale, inventory management, distribution and replenishment, warehouse management, CRM, and e-commerce. The Cybex Enterprise Retail Suite focuses on information... Read More
 
Phorest Salon logo
 
Phorest is a salon management software solution designed for small and midsize businesses that features appointment bookings, point-of-sale, inventory management and reporting. The software offers cloud-based deployment and a salon-branded... Read More
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Phorest is a salon management software solution designed for small and midsize businesses that features appointment bookings, point-of-sale, inventory management and reporting. The software offers cloud-based deployment and a salon-branded... Read More
 
QuickBooks POS logo
 
QuickBooks POS is a retail point of sale system suitable for various small businesses such as clothing and shoe stores, small franchises, sporting goods stores and gift shops. It offers inventory and customer management tools, merchandise... Read More
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QuickBooks POS is a retail point of sale system suitable for various small businesses such as clothing and shoe stores, small franchises, sporting goods stores and gift shops. It offers inventory and customer management tools, merchandise... Read More

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GiftLogic logo
 
GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More
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GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More
 
Bepoz logo
 
Bepoz is a Software as a Service (SaaS)-based point-of-sale (POS) suite built for restaurant, retail and admissions businesses of any size. The program has multiple platform options and allows users to operate if network connections... Read More
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Bepoz is a Software as a Service (SaaS)-based point-of-sale (POS) suite built for restaurant, retail and admissions businesses of any size. The program has multiple platform options and allows users to operate if network connections... Read More
 
STORIS logo
 
STORIS provides retail software solutions to the home furnishings, bedding and electronics/appliances industry. The complete suite of STORIS includes Point of Sale, customer service, inventory control, merchandising, accounting, finance,... Read More
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STORIS provides retail software solutions to the home furnishings, bedding and electronics/appliances industry. The complete suite of STORIS includes Point of Sale, customer service, inventory control, merchandising, accounting, finance,... Read More
 
Celerant Command logo
 
Celerant’s provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart, etc) and ongoing digital... Read More
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Celerant’s provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart, etc) and ongoing digital... Read More
 
RetailPoint Point of Sale logo
 
RetailPoint Point of Sale is a cloud-based retail management system that helps users manage the daily operations of a single store or multiple locations in real time. In addition to the standard platform, it can also be accessed on... Read More
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RetailPoint Point of Sale is a cloud-based retail management system that helps users manage the daily operations of a single store or multiple locations in real time. In addition to the standard platform, it can also be accessed on... Read More

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Buyer's Guide

by Justin Guinn,
Market Research Associate
Last Updated: September 20, 2017


The big, scary world of analytics isn’t really that scary anymore, especially when you have the right analytics tool in place to do the heavy lifting for you. This is especially true for retail businesses, as there are now a multitude of affordable, easy-to-use retail analytics software options on the market. Here's a quick overview of these systems, including some product demos:

 

 

It's likely your competitors are taking advantage of this technology. Need proof? The overwhelming majority of your retail business owning peers are requesting analytic components from their new point of sale (POS) systems:

Top Requested Retail Analytics Features by POS Software Buyers

 

Most requested retail analytics software features

Sales reporting and inventory management are common retail analytics components that most modern POS systems offer in some capacity. They provide users unparalleled transparency into the inner workings of their business. This includes:

  • Key insights around best selling items
  • Most valuable customers
  • Busiest times of the day/week/month/year

But analytics systems are not all created equal. Some are less granular but very easy to use, while others seemingly require a data scientist to make sense of the spreadsheets (that’s a slight exaggeration).

So, we’ve created this guide to help you understand the various retail analytics systems, to help you determine the features and level of complexity that are the right fit for your business.

Here's what we'll cover:

What Is Retail Analytics Software?
Common Functionality of Retail Analytics Solutions
Benefits of Retail Analytics Systems

What Is Retail Analytics Software?

Retail analytics software can be tough to pin down. It isn’t really any one thing, and you can technically find it in many software offerings. For the sake of clarity though, retail analytics for small businesses analyzes sales, inventory and customer data.

We’ve identified sales reporting, inventory management and customer management as three of the five must-have retail point of sale (POS) features for small businesses. All three of these features help you streamline operational processes, and make things easier for you, your employees and your customers. In addition there are valuable insights that can be gleaned from analyzing key data points collected through these features, such as:

  • Sales reporting and analytics: Top selling items etc.
  • Inventory management analytics: When to restock or order new products etc.
  • Customer analytics: Most valuable customers, customer segments etc.

Common Functionality of Retail Analytics Solutions

Retail analytics software functions are pretty much the same whether you’re digging into sales, inventory or customer data. However, there are some nuanced capabilities based on the origin of the data that is being analyzed. Functionality shared among most analytics-enabled POS systems includes:

Data collection Automatic collection and organized storage of data following every transaction is particularly important. Imagine if you had to pull double duty by completing a task, then going back to record multiple specific details of that task that may or may not be valuable in the long run. Analytics software saves time by automating this process.
Reporting Reporting capabilities in software store these details for future reference and analysis with the click of a button. More advanced reporting can actually take historical data and perform predictive analytics to identify potential future trends, vulnerabilities, opportunities etc.
Dashboards Dashboards take reporting and make it even easier for you to get key takeaways. These features automatically articulate the key findings from reports into easy-to-digest, often interactive visual assets such as charts, graphs and tables. Many POS systems with analytic components even offer mobile dashboards for business owners to easily check sales, customer and inventory info, while on the go.

Benefits of Retail Analytics Software

We’ve conducted consumer research that articulates the benefits of comprehensive analytics insights with regard to retaining customers. For example, the stats below highlight the fickle nature of customer loyalty if their expectations aren’t met. These statistics may be quite shocking to some:

Reasons Customers Stop Shopping at Retail Stores

 

Reasons Customers Stop Shopping at Retail Stores

Retail analytics tools can help you address these issues by uncovering key insights such as peak hours, days and seasons and optimize your inventory. These insights are critical in ensuring stores are properly staffed to handle busy times and properly stocked to meet the demands of consumers.

There are many benefits to retail analytics capabilities in addition to the insights uncovered in the data above. These include:

  • Pricing strategies. We’ve highlighted the various pricing strategies employed by retailers big and small to attract more customers and increase sales. However, the most important aspect of choosing an effective pricing strategy is analyzing sales data to determine which strategies have the greatest impact on sales for your business. Only with this valuable sales analysis can you infer the most successful pricing for specific products.
  •  
  • Customer loyalty programs. These programs often get a bad rap for making customers loyal to the program and not your business. There is some validity to this point. Casting a wide net with a loyalty program that’s not data driven will likely catch some customers who will be loyal to the program (i.e., the money they save). Not that your customers saving money is a bad thing, it’s just that that’s not a sustainable form of loyalty.

    On the other hand, proper retail customer analytics can help you pinpoint who your most valuable customers are. Customer management capabilities often include customer profiles with contact data. You can leverage different communication channels to reach out to the customers who spend the most in your store (based on customer purchase histories) and incentivize them to repeatedly come back. You don’t even have to take losses with discounts using this strategy. If there’s a particular brand, product etc. that a valuable customer is looking for, it can be as easy as letting them know when you’ve got more of their coveted product in stock.

Free Download:
Retail Software Pricing Guide

Free Download:
Ten Steps Guide to Selecting Retail Software

 

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