So, you are in the market for retail analytics software.
Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you.
If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers. So, that’ll be the “can’t go wrong” option.
Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.
Enjoy the list!
The Best Retail Analytics Software Specifically
Retail analytics focuses on improving customer interactions, marketing efforts and procurement decisions through business data insights. A retail analytics platform that offers inventory level tracking, trend discovery and drives profitability will be the perfect fit for this category. Have a look at the products below to choose the best retail analytics software:
With PowerBI, you can quickly connect to data and prepare, remodel or visualize it. PowerBI mainly works on business intelligence and helps you create amazing data experiences. You can get the most out of your big data investments by connecting your data sources and sharing insights across the organization.
Here are some exclusive features of PowerBI:
Unify Self-service and Enterprise analytics: PowerBI meets both self-service and enterprise data analytics requirements. You can access powerful semantic models, an application lifecycle management toolkit, open connectivity framework and pixel-perfect paginated reports. PowerBI is a flexible platform that serves all business industries.
Industry-leading AI: With PowerBI, you can take advantage of the latest advances in Microsoft AI to build machine learning models. It helps you swiftly find insights from structured or unstructured data. PowerBI has the best-in-market AI capabilities and amplifies your business decisions through quality data insights.
Improved Publishing Efficiency: PowerBI allows you to quickly identify differences and move content from development and testing to production with confidence. Additionally, it ensures your datasets are ready for analysis by preparing them beforehand. PowerBI provides unrivalled publishing efficiency.
Analytics Streaming: PowerBI provides you access to real-time analytics from factory sensors or social media sources. It helps you anticipate negative sentiments around your business or uncover hidden trends so you can make timely business decisions to improve your brand image.
Actionable Insights: PowerBI connects with the Microsoft business ecosystem to help you turn your data into a competitive edge. With PowerBI, you can connect, combine and analyze your entire data estate. Additionally, PowerBI offers unparalleled Excel interoperation by connecting excel data models and reports to its dashboard.
PowerBI offers 2 Pricing options for its business intelligence and analytics platform.
The "Pro" plan is priced at $9.99/user/month and offers live dashboards, self-service analytics and insight sharing.
The "Premium" plan is priced at $20 /user/month and offers all available features of PowerBI.
SiSense essentially lets you embed analytics into any application or workflow to make critical business decisions. With SiSense, you can build customized experiences leveraging code-first, low-code and no code to create transformational workflows. SiSense provides you with actionable insights to empower your business journey.
Here are some exclusive features of SiSense:
Data Modeling: SiSense lets you join and blend data together without specialized data engineering teams or platform-specific technologies. It enables data teams to easily ingest, prepare, transform, visualize and augment complex data using cloud data warehouse and development workflows.
Visualization: With SiSense, you can track metrics or embed dashboards, widgets and filters into applications. Its intuitive dashboard exploration empowers everyone to build, explore and deliver insights. SiSense offers smart calculation and charting options based on your data set.
Explainability: SiSense takes the guesswork out of your analytic insights, helping you quickly assess your data outcomes with easy-to-interpret analytics. You can visually summarize statistically powerful insights and surface them via new automatically created widgets. Exploration paths leverage machine learning to uncover new insights that otherwise would remain hidden.
Embedding: SiSense lets you embed analytics within your products and applications to create a seamless analytical experience. You can embed dashboards and widgets with an iFrame HTML tag if you have no coding knowledge. Additionally, SiSense helps you rapidly build an integrated user experience that embeds analytics.
Actionable Intelligence: With SiSense's powerful AI-enhanced analytics, infusing intelligence into your business workflows is simple. You can do predictive analysis through forecasting and understand patterns in your data. Moreover, SiSense's machine learning algorithms continuously run to detect anomalies and variations in your business.
SiSense offers custom pricing options for its platform. It claims to be committed to "no-surprise" pricing to create a customized solution for your budget and business needs.
Tableau is a visual analytics platform that helps you comprehend data and solve problems. Founded in 2003, Tableau is the leading data analytics software in almost every industry. With Tableau, you can formulate successful campaigns and business forecasts. It helps you derive maximum critical information from your data records.
Here are some exclusive features of Tableau:
Tableau Desktop: Tableau delivers everything you require to access and analyze your business data. You can uncover hidden business insights to make faster impactful decisions. Additionally, Tableau powers real-time data exploration by quickly building calculations from existing data. You can combine and clean data within Tableau without any coding.
CRM Analytics: With Tableau, you can find patterns and experience actionable insights specific to your business. You can then infuse these insights into every process. Tableau drives faster decisions with AI-powered predictions and recommendations. It allows you to auto-scale across all users and leverage permissions.
Tableau Prep: Tableau Prep Builder offers a modern approach to data preparation, resulting in swift combining, cleaning and shaping. It provides 3 Coordinated views to show granular details. With Tableau, you can see immediate results while analyzing data and combine multiple data subsets for deeper analysis.
Advanced Management: Tableau offers server and cloud hosting options, allowing you to manage every aspect of the platform. With Tableau's highly configurable abilities, you can pass tough security requirements without compromising on the end-to-end experience.
Data Management: With Tableau's virtual connections, you can design and share a central access point to your data source rather than connecting several workbooks independently. It enables you to curate relevant tables for analysis and simplifies management by consolidating your data.
Tableau offers 3 Pricing options for its data analytics platform. All subscription plans have a custom pricing option.
The "Creator" plan offers a prep builder, Tableau Desktop and one creator license on the cloud server.
The "Explorer" plan offers advanced management and data exploration through self-service analytics.
The "Viewer" plan allows you to interact with dashboards and create data visualizations.
SAP Analytics Cloud brings together analytics and planning to help you derive unique insights. You can accelerate deployments with pre-packaged best practices for your industry. SAP allows you to simulate any scenario and generate plans from predictions. It drives agile business decisions, helping you scale faster.
Here are some exclusive features of SAP:
Analytics and BI: SAP's intuitive self-service analytics helps you explore data across the organization and deliver insights at the decision point. You can use self-service data modelling to set KPIs and hierarchies while automating data. Additionally, SAP offers interactive visualizations to discover insights and inspire audiences.
Enterprise Planning: SAP drives better business outcomes by creating and linking your financial and operational plans. You can use predictive planning to anticipate business needs and stay agile with forecasting and machine learning. Moreover, SAP allows you to modify versions of the planning model for data-driven budgeting.
Composable Analytics: SAP allows you to tailor analytics and planning applications to meet unique business requirements. You can increase application developer productivity with reusable widgets and flexible APIs. SAP enables users to easily customize and compose analytics applications.
Prebuilt Business Content: SAP offers prebuilt best-practice content packages for businesses to quickly help them get started with data analytics. You can leverage end-to-end tailored packages to work with recommended SAP data sources. Additionally, it helps you realize results quickly by accessing documentation of KPIs.
ESG Reporting and Sustainability: SAP helps you deliver environmental, social, and economic impact with actionable insights and accurate reporting. You can deliver automated and auditable ESG reporting by analyzing your business data. SAP allows you to drive targeted action for sustainability performance.
SAP offers 2 Pricing options for its data analytics platform.
The "Business Intelligence" plan is priced at $36/user/month and offers automation, actionable insights and augmented analytics.
The "Planning" plan has an on-demand pricing quote and offers integrated planning, forecast automation and scenario modelling.
5. Zoho Analytics
Zoho Analytics is a modern self-service business intelligence and analytics platform that helps you create stunning data visualizations. Moreover, Zoho Analytics lets you search for trends to deliver deep insights based on business data. With Zoho Analytics, you can maximize your data to formulate and implement successful business strategies.
Zoho Analytics Features
Here are some exclusive features of Zoho Analytics:
Data Preparation: You can use the self-service data preparation and management app Zoho DataPrep to get your raw data cleansed and enriched for better analysis. Zoho Analytics automatically identifies data types and offers suggestions for joining datasets. Additionally, you can improve the data quality by removing invalid entries.
Visual Analysis: Zoho Analytics allows you; to effortlessly create meaningful reports and dashboards using a drag-and-drop designer. You can use several interactive options like contextual filters and drill-downs to perform ad-hoc exploratory analysis. With Zoho Analytics, you can compare and measure key metrics across countries, regions or states.
Augmented Analytics: Zoho Analytics augments your data analysis with AI, machine learning and NLP/G for faster insights. With Zoho Analytics, you can get actionable and contextual insights that go beyond visualizations. Additionally, you can engage in colloquial conversations with Ask Zia and get relevant reports.
Unified Business Insights: Zoho Analytics enables you to unify business data across your organization. You can automatically blend data from multiple apps, define metrics that span across data from multiple departments, plus create reports and dashboards with those metrics.
Data Storytelling: Zoho Analytics allows you to tell engrossing stories with your data. You can use ZohoShow to craft immersive analytics presentations by adding rich narratives in text, images and shapes, along with reports and dashboards. Additionally, you can create purpose-built analytics portals for your users.
Zoho Analytics Pricing
Zoho Analytics offers 4 Pricing options for its cloud-based data analytics platform.
The "Basic" plan is priced at $30/month and offers 250+ data connectors, along with unlimited reports.
The "Standard" plan is priced at $60/month and offers 5 User accounts, data snapshots, advanced slideshow and group support.
The "Premium" plan is priced at $145/month and offers 15 user accounts, Zia insights, advanced data preparation and logo rebranding.
The "Enterprise" plan is priced at $575/month and offers 50 user accounts, 5× performance and an analytics portal.
Why use Analytics Software at all?
Most of the business data like; videos, customer chats, or IoT network input is complex and unstructured. This data is a goldmine for your business, but only when you can use it. Modern data analytics systems that are powered with AI, machine learning and advanced database technologies can help you comprehend and analyze big data.
You can use the insights from data analytics software to make confident and faster decisions. Instead of being buried under an Everest of big data, intelligent technologies like data analytics platforms help you take that mountain and break it down into manageable, organized blocks.
Why should you use retail analytics software?
For retailers, data is both a crucial asset and the biggest challenge. It's the key to understanding and engaging your consumers. Retail analytics lets you effectively plan the product assortment mix at the hyper-local level.
At the store level, data is at the core of effective store optimization, and when it comes to supply chain management, data means visibility and flexibility at a global level.
Retailers competing on low margins have known for decades that data is a powerful tool. However, big data supercharges your business data for the modern multi-channel retail environment.
Retailers who embrace analytics throughout their organization can unlock hidden value and many other functions. Today's consumers know more about you than ever before. Without the insights that retail analytics provides, you risk missing opportunities to engage your customers.
Analytics lets retailers target consumers with personalized suggestions, upsell and cross-sell based on prior behaviour and predictive models like acquisition pattern analysis.
Best Retail Analytics Software, A Summary
Retail analytics helps you increase in-store traffic by understanding consumer behaviour and making business decisions that put your brand on top. With retail analytics, you can optimize your manufacturing and raw material procurement by ensuring your inventory is in the right shape.
PowerBI offers quality analytics for retailers and lets them identify hidden patterns or possible crises. It is our suggested pick for the best retail analytics software. Visit the website to get started.