For all but the smallest and most remote retailers, omnichannel commerce is a major concern that will only grow in popularity as time goes on. While many businesses have adapted at one level or another to the idea of multichannel commerce – and there’s some argument as to the real difference in meaning between multichannel and omnichannel – omnichannel requires more adjustments. The newer concept, with its increased focus on customer perspective and experience, consistency of interactions and other distinctions, can mean better results. But it also requires more data, more analysis and a better understanding of customer behavior to truly be successful.
“With a strong, single source of information, customers can be tracked across channels.”
Bridging gaps in omnichannel strategy with predictive analytics
Gulf News discussed the need for businesses to maintain the relevance of all major sales channels for an omnichannel strategy to be successful in the long run. Without the right approach and the most relevant business intelligence software to make sure every sales channel is connected to major improvements like predictive analytics and big data, companies risk only realizing success in some sales areas instead of all. An approach that prioritizes changes to sales on the organization’s website but does little to improve or modernize the in-store shopping experience won’t pay off in a holistic, connected way, for example.
The right approach to omnichannel retailing has to break down barriers between the many operational areas of a given business. With a strong, single source of information, customers can be tracked across channels and their past decisions brought to light when the need arises. Removing the walls between different sales channels means creating a single profile for each shopper. This valuable construct draws on many sources of information to help automated systems and staff make relevant recommendations and take steps that lead to positive conclusions and strong engagement. A clear picture of customers and the ability to track them across all purchasing channels are critical to omnichannel success.
Aviana understands what retail businesses need to do to make their operations more effective in terms of omnichannel success. Our work helping connect the many parts of large retailers’ operations through the power of IBM Cognos software gives us a strong base to build on and tailor the best possible response to each company’s individual needs. To learn more, visit our dedicated industry page.