Brightpearl adds new ‘Insights’ retail analytics
To deliver this new solution, Brightpearl has deepened its technology partnership with business intelligence software specialists minubo, enabling merchants to gain insight into their business performance.
Instead of spending time defining KPIs and building reports, Brightpearl merchants are now able to generate instant results, with a palette of pre-prepared metrics, reports and dashboards designed by blue chip retail experts. The new solution brings to SME retailers the type of insight usually reserved for global retail brands – enabling them to make smart, data-driven decisions and gain market share from competitors.
Normally these tools would come at significant cost, making it simply unfeasible for SME retailers, the reports and dashboards within Brightpearl Insights encapsulate many years of merchandising, marketing and general trading expertise across a range of sectors, captured by both Brightpearl and minubo.”
- Intuitive self-service dashboards delivering time-based reporting across customers, vendors, products and sales (e.g. average order value, sell through percentages, return rates, margins)
- Pre-defined reports for detailed aggregation of customer sales and products, instant insight across key business drivers (e.g. revenue and profit by customer, by product, segmented over time or by specific marketing campaigns)
- Access to a suite of pre-built industry analytic reports, giving insight on customer acquisition (new vs existing customers), customer life-cycle and eCommerce marketing spend.
Among the first retailers to use the new product is premium bicycle spare parts supplier, Velobrands. After growing his business from a hobby to a $5m annual revenue business, founder Will Miles identified better customer engagement as the key to continued expansion. But to generate relevant offers required deep analysis of existing data held within his business.
“We wanted to analyse individual brand penetration for each retail customer, to use sales forecasts to ensure more accurate ordering and to generally improve the efficiency of our inventory management,” said Will Miles. “But in common with many retailers, we didn’t have the money or capability to build the necessary IT systems.”
“After using Brightpearl Insights across all marketing channels, my team can now instantly analyse operational and sales data across clients, driving additional sales revenue and saving us hours of time every week.”
Brightpearl Insights is available in three tiers (Essential, Advanced and Advanced Plus) and is available immediately in the UK and from July 6 in the US.