Smart Store Analytics and Store Operations Assist They aim to enhance physical stores' digitization processes, as well as other newties, at the National Retail Federation (NRF) 2023, a global event that brings together the latest technological innovations for the sector.
Microsoft enhances workflows in the physical store (similar to what would be done in an eCommerce) to allow for digitized and intelligent areas. Similarly, it enhances the employee experience by allowing for different tasks to be tracked.
This intelligent retail concept generates new consumer information relevant to business operations. All of this results in a more intuitive experience, which is capable of increasing conversion rates and customer satisfaction.
The stores can store up to 40 petabytes of data. However, these are siled — because customer touch points are often not linked to each other – so most retailers/stores only benefit from a small amount of information.
Retailers may leverage the new Smart Store Analytics feature to enhance hybrid business strategies. It's possible to observe consumer behavior throughout the purchasing process, from the time you see the product to the time you order it. Furthermore, this information helps them optimize any aspect, from the layout of the store to the selection of products or the location of the shelves and inventory.
Improving frontline employees' working processes is investing in the customer experience. By empowering retail workers with the appropriate tools, data, and expertise, you can increase conversion rates and customer satisfaction.
Store Operations Assist is a dashboard that displays all of the store's daily operations, from order fulfillment to customer service scenarios. It also makes it simpler for managers to monitor the store's operational activities, thanks to the analysis of the data displayed.