Grocery stores are facing unpredictability more than ever. With technological advancements, customers too tend to change their preferences faster now. It is time to embrace Business Intelligence Tools driven by Artificial Intelligence. Industry leaders like the Al Dhafra Society use Microsoft BI Tools to identify trends and spot changes in patterns. They modify and innovate strategies based on the insights they receive.
AI is not limited to large-scale industries but small to mid-size businesses as well. Not just groceries, it helps all retail, hospitality, and manufacturing segments of every size to utilize market and business insights and form more logical strategies.
Microsoft BI Tools are a must-have for all decision-makers, as AI is an extremely fast-growing technology combined with Machine Learning (ML), Natural Language Processing, and predictive analysis. You can accurately predict market demands and order just the items in your grocery stores. With a deeper understanding of your customers, you can create relevant strategies, deals, and offers for them at the right time. With this technology, you can even segment customers into groups or categories, as per their needs.
With all this in mind, our team of researchers has found top ways to use Microsoft BI Tools to grow your retail sales.
Collect the Information that Counts
From the plethora of data, you have to find the data that counts. If you are still hung up on the traditional methods of collecting and analyzing data on an excel sheet, you will fall way back in the competition. As your business grows, Excel starts becoming even more irrelevant to your business. You can instead use Business Intelligence Platform, such as Microsoft Power BI Dashboards and Reports.
Microsoft Power BI removes the data storage burden and presents accurate data insights in user-friendly dashboards. You can even view these details in real time and make quicker and more informed decisions.
Figure Out the Gaps the In the Market Trends
It is easy to find out popular market trends. You can collect data about them from your sales history and customer feedback. Moreover, there are other sources through which you can find popular trends in the market. However, have you ever thought about hidden trends? Have you ever tried to find out the gaps in the market? But where to start? That’s the beauty of Microsoft BI Tools; even if you have the data scattered, you can still get the most relevant and useful data for your business.
Moreover, with the combination of natural language processing, and machine learning, AI can sift through the multiple verses of unstructured data including social media to figure out trends before even the customer recognizes them. What else do you need to push back everyone else in the market?
“Un-Complexify” and Automate with Business Intelligence Tools
It is a well-known fact that well-considered and targeted labeling, tags, and description. Tags are responsible for enhancing your item’s chances of being discovered on search engines like Bing and Google. However, generating SEO-friendly descriptions for each of your products consumes time and demands high expertise.
This is where AI-powered product labeling and tagging help. Many grocery retailers are now using computer vision algorithms to find the product’s key attributes and tag them. You can even use these algorithms to generate SEO-friendly titles and spot-on product details to ensure your customers find what they want.
Help Customers Find What They Want
Having delivered the wrong items causes the most returns. But the good news is that grocery retailers can also take proactive measures to improve the quality of their services. For instance, they can write the guidelines and product descriptions more clearly.
With Microsoft BI Tools, retailers can help customers find exactly what they want according to their individual preferences. According to the digital pioneer Asos, customers do not have to browse through thousands of products, instead, they can view the products personally relevant to them.
Understand the Factors Encouraging Your Customers Purchasing a Product
Have you ever wondered why buyers abandon their carts? Did they find better deals somewhere else? Or are they taken aback by the unexpected additional costs? Are they really ready to buy your products? Or is the reason something else? A research firm Baymard Institute found about 70% of buyers lead their carts filled. After estimating they found it costs billions of dollars to store.
With Microsoft Power BI Tools, you can collect masses of data about your customer purchase history, browsing habits, and purchase habits. Find out what is preventing them from placing an order.
As businesses grow, their data burden increases simultaneously. To manage the masses of data, it is smartest to use Power BI Tools such as Microsoft BI Tools. The best part is that they will never burn a hole in your pocket and are easy to use. If you want to know how powerfully it can impact your grocery store individually, you can contact us. We are Microsoft Dynamics Gold Implementation Partner and LS Central Diamond Partner.
