[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_fullwidth_post_title meta=”off” featured_placement=”background” text_color=”light” text_background=”on” text_bg_color=”rgba(0,0,0,0.23)” _builder_version=”4.16″ background_color=”rgba(255,255,255,0)” parallax=”on” text_orientation=”center” text_shadow_style=”preset2″ use_border_color=”off” global_colors_info=”{}”][\/et_pb_fullwidth_post_title][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Intro” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”]<\/p>\n
Many business leaders around the globe say that \u201cdata is the new oil\u201d in the world economy.\u00a0 While that comparison is\u00a0<\/span>often<\/span>\u00a0debated, it doesn\u2019t change the fact data helps all organizations make better decisions. That means mining it, managing it, and putting it to work is vital to the success of any business, and many retailers aren\u2019t aware they\u2019re awash in data they aren\u2019t putting to work. That\u2019s why adopting the latest retail data technology with features and integrations that work in unison to leverage it is so critical.<\/span>\u00a0<\/span><\/p>\n Deloitte, one of the largest accounting organizations in the world, estimates that\u00a0<\/span>90% of business data<\/span><\/a>\u00a0generated in the last five years is unstructured, meaning it exists in documents such as invoices, emails, reports, and even digital photographs and videos. Retail data technology companies specialize in organizing and delivering it in a format that independent businesses can put to work.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Getting Your Data Together” _builder_version=”4.22.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”]<\/p>\n \u201cPutting data to work. What does that mean?\u00a0 It\u2019s important that independent businesses shift their thinking about data,\u201d says Jeff Rogers, marketing, sales and partnerships director at Paladin Data Corporation, a retail\u00a0<\/span>technology<\/span>\u00a0provider for independent businesses.\u00a0 \u201cWe see this across the board. Whether you\u2019re a store that doesn\u2019t currently use a technology system or a highly profitable multi-store chain, putting your data to work will and should become the primary focus.\u201d<\/span>\u00a0<\/span><\/p>\n Online and big-box giants like Amazon, Google and Home Depot have largely succeeded, and changed the business landscape, by mining and managing the huge amounts of customer and retail data they collect. How often do we browse the internet for a product only to\u00a0<\/span>later\u00a0<\/span>see advertisements for those\u00a0<\/span>same\u00a0<\/span>items pop up on practically every website we visit? That\u2019s big retail data at work.<\/span>\u00a0<\/span><\/p>\n Independent businesses can operate just as efficiently and effectively by enlisting and utilizing the tools available in a comprehensive retail platform\u00a0<\/span>that<\/span>\u00a0mines and manages a store\u2019s retail data. Ace Hardware CEO John Venhuizen says his company\u2019s stores, most of which are independently owned and operated, successfully compete with the big-box boys by knowing their market, their products, their customers and using their data.<\/span>\u00a0<\/span><\/p>\n “We have an irrational pursuit of amazing service. The red vested heroes that work in our stores \u2014 100,000 of them around the world \u2014 that are owned and operated by local owners provide a level of service for which Ace has become famous<\/span>,<\/span>“<\/span>\u00a0he\u00a0<\/span>tells\u00a0<\/span>Hardware Retailing<\/span><\/i>.<\/span>\u00a0<\/span><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Ways to Put Data to Work” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”]<\/p>\n Most savvy business owners by now are\u00a0<\/span>well aware<\/span>\u00a0of how to mine retail data by collecting customer information through sales transactions in their point of sale systems and rewards programs. However, there are effective ways to collect consumer feedback that can help improve customer service. One is the utilization of Net Promot<\/span>e<\/span>r Scores (NPS), a management tool used to gauge customer service, satisfaction and loyalty.<\/span>\u00a0<\/span><\/p>\n \u201cWe launched an NPS system and what we\u2019ve learned from it is monumental,\u201d Rogers says. \u201cIt\u2019s reshaped our business. We use it to keep a pulse of our client sentiment and tell us how we\u2019re performing. That\u2019s what it comes down to for every business \u2013 develop insights and make better decisions based on the information you have at your fingertips.\u201d<\/span>\u00a0<\/span><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Customers are Kings and Queens ” _builder_version=”4.22.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”]<\/p>\n Customer\u202fsatisfaction\u202fisn\u2019t what it used to be. Before the internet, businesses called the shots as customers shopped at local stores during regular business hours. Today, the tables have\u202fturned,\u202fand the customer is king. E-commerce is open 24\/7 and with shipping options ranging from same-day to free next-day<\/span>,<\/span>\u00a0customers shop on their terms and don\u2019t have to leave the couch to receive goods. However, unlimited shopping options also means the competition for customers has never been greater.\u202f<\/span>\u00a0<\/span><\/p>\n Consumer confidence in businesses isn\u2019t what it used to be, either. The barrage of online sales pitches and\u202flack of ethical oversight\u00a0<\/span>in the use\u00a0<\/span>of\u202fpersonal information has\u202fmade consumers wary. Research from\u202f<\/span>HubSpot<\/span><\/i><\/a>\u202f<\/span><\/i>shows:<\/span>\u00a0<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”][\/et_pb_text][et_pb_blurb title=”81% of consumers trust their friends and family\u2019s advice over advice from a business\u202f” use_icon=”on” font_icon=”A||divi||400″ icon_color=”#cc6633″ icon_placement=”left” _builder_version=”4.16″ header_text_color=”#3e5062″ global_colors_info=”{}”][\/et_pb_blurb][et_pb_blurb title=”65% do not trust advertisements, and 71% do not trust sponsored ads on social networks” use_icon=”on” font_icon=”A||divi||400″ icon_color=”#cc6633″ icon_placement=”left” _builder_version=”4.16″ header_text_color=”#3e5062″ global_colors_info=”{}”][\/et_pb_blurb][et_pb_blurb title=”55% no longer trust the companies they buy from as much as they used to\u202f” use_icon=”on” font_icon=”A||divi||400″ icon_color=”#cc6633″ icon_placement=”left” _builder_version=”4.16″ header_text_color=”#3e5062″ global_colors_info=”{}”][\/et_pb_blurb][et_pb_text admin_label=”Consumers are” _builder_version=”4.18.0″ global_colors_info=”{}”]<\/p>\nGetting Your Data Together<\/h2>\n
Ways\u00a0to Put Data to Work\u00a0<\/span><\/h2>\n
Customers are Kings and Queens<\/h2>\n