Retail Analytics: Breaking Through the Hype and the Noise

In the latest podcast episode of “Point of Scale,” host James Prebil sat down and interviewed his friend and Ocean Spray’s Director of Category Insights and Analytics, Paul Sproles. The two discussed how analytics are a vital aspect in shaping retail and consumerism.  

Sproles said that having all the information in retail is the beacon to gathering and compiling analytics. He also added that every detail matters because it allows for less error and more accuracy in determining the ins-and-outs of your business. He described retail as “knowing everything about everything that has ever been done always.” 

Knowing your consumers is another major factor. Retail is such an important part of many peoples lives and because the world is so consumer and marketing–driven, knowing who the buyers are is a highly important aspect in that.   

Sproles iterated that consumers are the ones who make decisions that decide who gets hired or fired. That reason alone is why analytics in the retail industry  

“Retail analytics is the idea that we can solve what I would say is the unsolvable, which is anticipating the human experience through purchasing,” said Sproles.  

And what does this purchasing power show? Spoles mentioned that this fact is a principal area of what molds the retail industry. However, every solution can come with a challenge 

“Realize that every second there are hundreds and millions of people making decisions that we try to put analytics behind and we try to find data points to tell a story,” said Sproles. “It’s a beautiful artistic concept — it’s also very difficult to actually put in.” 

That challenge is usually in the form of data collecting because a lot of components go into collecting the data. Additionally, Spoles said that the data is useful to every person in a specific retail business, as it will be helpful to every employee from lower to high management. Not only that, analytics will also help with future projections in regards to weather and major events. 

Follow us on social media for the latest updates in B2B!

Image

Latest

women’s health
AI and Advocacy Unite: Tackling Women’s Health Disparities with Hologic Mia Keeys
February 5, 2025

Women’s health remains a critical issue globally, with alarming disparities in access and outcomes. A new survey from Hologic and Gallup reveals that while nearly 90% of women recognize the importance of health screenings, less than half undergo them consistently due to barriers like cost, time, and anxiety. The stakes are particularly high in…

Read More
toast
The Framework Series Advantage: Using Toast to Visualize and Refine Business Processes
February 5, 2025

Most organizations face challenges when aligning teams on processes and strategies. According to a 2021 McKinsey Global Survey, fewer than one-third of companies successfully improve performance and sustain those improvements over time, often due to a lack of employee engagement and poor execution. The key to overcoming this? A simple exercise involving sticky notes and…

Read More
Portia Roberson
DisruptED in the D: A Story of Hope with Portia Roberson (Ep. 1)
February 5, 2025

Detroit’s resurgence has been a story of resilience, but the city still grapples with deep economic and social disparities. Once one of the most prosperous cities in America, Detroit faced bankruptcy just over a decade ago. Today, the city is bouncing back, but the gap between progress and community well-being remains significant. With organizations…

Read More
Black leadership
DisruptED in the D: The Power of Black Leadership with Dwan Dandridge (Ep. 1)
February 5, 2025

Detroit has long been a city of resilience, innovation, and reinvention. Once the heart of American industry, its rebirth has been marked by waves of economic and social transformation. But as new developments reshape the city, the question remains: who gets to be part of this transformation, and how can Black leadership play a…

Read More