Improve sales, perform market basket analysis and cross-sell opportunities by using SocrateBI

Date: 23-03-2012
Author: Bit Software

If your company activates in retail, distribution, services, telecom, or in any other consumer-oriented business environment, you know that understanding customer motivation to do or not do a certain acquisition is essential for your business survival and development. You need to quickly identify changes in consumer tastes and preferences and act immediately to improve their experiences.

Therefore, sales and marketing divisions must know any time how many customers were gained or lost in the past month and why, which are their profile and income, what products they like and what goods they never purchased, etc. Why do they need this information? First, for in-depth understanding of consumer behavior. Second, to develop specific strategies in order to have loyal clients, optimize customer profitability and identify new sales opportunities.

With SocrateBI’s Sales and Customer Analysis Module (SCAM), your company gain deep insight into customer behavior, enabling organizations to reduce attrition of high value customers and identify cross-sell opportunities. You can also identify the number of new and lost customers (in the past month or quarter) or the customer loyalty, by length of trade relations with your company.

Also, you will see the customer value and the contribution of each active client to company’s income (the customer value is calculated based on some qualitative and quantitative factors, being an important measure for organization's customer quality).

Based on information provided by SocrateBI SCAM related to distribution of discounts and revenues, operating income and adjusted tax margin by category and brand, you can perform market basket analysis and cross-sell opportunities, in order to improve sales.

Built on the MicroStrategy platform, the Sales and Customer Analysis Module include reports, scorecards (a specific collection of related reports), and dashboards (a collection of related reports customized for optimum display). In addition, some reports show summarized information to help you see trends, while others display very specific, detailed data about your customers.