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How Is WovVBI Helpful In Increasing Shopping Mall’s Performance

Introduction

The shopping malls use business intelligence to optimize product sales, create a business growth strategy, & predict future market dynamics. WovVBI – a cloud-based, SaaS-modelled BI solution from WovVTech – helps shopping malls in better decision making aimed at expanding your business & building competitive advantage in today’s dynamic & challenging retail market. Doing sales analysis is one of the very important reporting activities in any organization. There are Shopping Mall Management Software & Applications that touch every aspect of your business – sales, marketing, merchandising, operations, supply chain, finance & others. But the question is whether to go for a comprehensive BI solution which looks into each of these aspects or to go for the best of breed approach. The decision is in your hands, but here the WovVBI, the Mall Intelligence Software, masters the sales part of your shopping mall. WovVBI offers sales reports in different dimensions like products, service, locations, regions, time periods etc. By going through these reports you get complete insight about business groups, individual brands, & KAMs. Having got the access to such precious data you can increase store profitability & boost up your mall’s overall growth strategy. 

WovVBI increases shopping mall’s performance 

Informed decision making

To be a successful manager one needs to make sound decisions at the right time. While this is already challenging, it becomes even more difficult if managers don’t have the right information at the right time. As a sales manager these are some of the questions which you have to deal with – What is the cash flow? Which products bring more revenue? What are your sales team focusing on? Are there any shortcomings that you need to amend? These are some of the important questions which you need to answer with accuracy to further push your business towards the spotlight. Last month’s sales data alone won’t help, it doesn’t give that granular picture. You have to have the DSR which gives you everyday’s sales data as they pass so that you can take quick decisions to amend processes before it’s too late & also to glean important insights from daily sales data. Shopping mall analytics gives you pinpoint accuracy to zero-in on a problem before it becomes too big. 

Root cause analysis 

With WovVBI sales reports you get to know that this particular product is doing well. What could be the reason for this:

  • Is there a great demand for this product? 
  • Is our product better than competitors’? 
  • Is this a seasonal phenomenon? 
  • Are these sales representatives doing better than others? 
  • Is this product kept in a better shelf position? 
  • Is it cheaper in comparison to competitor’s products?  

As you tend to investigate these questions you develop a better hold over the background of this products which helps in boosting sales of this product. 

Similarly, if our ADSR from Retail Mall Analytics shows that a particular products is not doing well, what could be the reasons for that:

  • Is it of poor quality? 
  • Is it expensive? 
  • Is there no demand for this product now?
  • Is it a seasonal variation? 
  • Has it got proper shelf positioning? 
  • Are the concerned sales representatives doing their job well? 

Again getting answers to these questions will generate precious insights based on which you can fine tune your sales strategy of this product. 

Monitor & motivate sales people  

These sales reports from Analytics for shopping malls can easily give a hint on individual product’s performances suggesting how well the concerned sales representatives are working. If you can relate sales people performances to sales, you will be able to find out relative performances of the sales representatives. After which you can take various actions like motivating the sales staff for better performance. Such monitoring & motivation will boost the morale of the sales team leading to better sales across products. 

Everyday insights for better performance 

WovVBI – the Shopping center management software – sales reports include reports which give quarter wise, month wise, & day wise sales performances.  These monthly, weekly, & daily sales reports give astounding benefits— through them you get clearer insights on how well the current quarter is going & how well the last quarter went. Each day’s performance will add up to your quarterly & yearly sales performance – so try to get the most out of DSRs. 

It gives key retail insights

WovVBI gives key retail insights like trading density & health ratio.  Trading density of shopping malls is the ratio of total net sales to total area of the mall; it is expressed in dollars per square feet. The trading density of a mall helps you to choose the right assortment, choose location, do right pricing, do marketing, do better merchandising, get product knowledge, offer better customer service, & improve shopping environment.  Similarly, health ratio can help mall owners to make intelligent decisions regarding a brand’s presence in their mall. The health ratio can be plotted against time to determine sales. This ratio can reveal if a tenant’s sales are increasing or decreasing when compared to fixed costs. Based on this insight, it can be decided whether the tenant needs to increase sales or move to a lower cost location.  

WovVBI Features 

This software is from an Analytics firm for malls and shopping center. It’s an innovative retail platform which can capture retail data & analyze it through advanced intelligent tools. It’s a fully automated system which offers customized views & results. Here are its key features:

  • It has an intuitive report builder which helps you to build custom reports & pivots. All the data is available to the users to get the required insights in minutes.  
  • Provides extensive reports specially for shopping malls. All key parameters & reports have been already defined. 
  • There are appealing visual charts which help you to deep dive into data. Charts can be changed & customized for better report representation. 
  • Integrate data from multiple sources like Yardi, Salesforce to build intuitive custom reports. 
  • You get real-time reporting, instant notifications, easy set up, simple UI, user role & profile management automation. 

WovVBI is a great Shopping mall analytics and sales capturing solution which has been exclusively designed to boost shopping malls’ performances. There are an intuitive Dashboard, hard-coded reports, & customizable charts all designed to give precious information which help you to better manage your mall & take sound future decisions. 

Conclusion

WovVBI is a decision support system which integrates dispersed data in your organization & even outside it & converts it into valuable information about your company in today’s challenging & dynamic sales environment. Our BI solution has predefined multi-dimensional analytical models which provide key information about sales processes. This analytical tool gives data access through the right mechanism like reports, dashboards, KPIs, charts, & alerts. Designed specially for retail, it helps you to optimize processes by identifying processes in store sales. Try this advanced, amazing business intelligence software today to improve the performance of your shopping malls.