The growing consensus now is SME merchants who act on intelligence from a single source of data become leaders in their market.
Trading data is as much an enemy as a friend
But it need not be like that
How can merchants capitalise on large amounts of ever-growing ecommerce data?
With so much data created, from so many sources, it can be difficult to find intelligence in the noise that leads to efficiency and profit.
According the analysts data can be too much and never enough
In 2020 Dell Technologies commissioned the Digital Transformation Index (DT Index) study to assess digital maturity of businesses around the world.
- Data is the number one barrier to transformation AND is their biggest asset
- Businesses are struggling to reconcile multiple data sources, technology and people
- Businesses say they need more data - but cannot analyse or meet the security and GDPR compliance requirements
- Businesses feel overwhelmed by the data they have. 91% of businesses agree that extracting valuable insights from data will be more important for their business than ever before
It is not data that changes business
It is the ability to react to data that changes business
Ecommerce data intelligence reveals how merchants really perform
Data is at the centre of all decision making but intelligence is at the centre of good decision making.
IRP proves that being able to action ecommerce intelligence through a single data source makes merchants more agile, scalable and profitable.
Whether merchants are measuring the effectiveness of marketing campaigns, forecasting sales trends or optimising stock and pricing - having a single source of data intelligence is the key to profit.
The volume, variety and velocity of data can ONLY be controlled with a combination of the right trading technology and mindset.
Trading Terminal transforms merchant profits
IRP Trading Terminal brings merchant data together in one organised place. We process billions of data points to enable merchants to take real time decisions on trading positions and ecommerce actions.
Merchant data is consolidated ready for use without the inefficiency of multiple sources of data. There’s no need to mine data using 3rd party tools.
Using Trading Terminal, merchants can get a full market picture of their business at both a micro and macro level.
Over Black Friday IRP merchants reacted in real time to the market and recaptured demand through remarketing campaigns.
Ecommerce should always be about trading
With technology as the great leveler, merchants can maneuver into prime position and with IRP V8 harness the immense value of their ecommerce business data.
Retrospective consultancy based on multiple data sources is finished as a viable ecommerce strategy.
It is time to embrace what data intelligence can do and transform your business with a long term defensible position in an increasingly competitive world.
