High Impact Analytics: Empowering SMBs with High-end Retail Analytics Solutions

High Impact Analytics: Empowering SMBs with High-end Retail Analytics Solutions

James Harris, President, High Impact AnalyticsJames Harris, President
With digitization, today’s retail industry is drastically transforming like never before. Alongside, Small and Medium-sized Business (SMB), retailers are lacking advanced sales technologies and expertise and the skills to differentiate their brand and penetrate into the vast retail space. They are on a constant lookout for the right analytics tools to balance their inventory and sales and boost productivity. This is where High Impact Analytics (HIA) comes in. HIA is an innovative provider of tools and techniques to empower SMBs and help them enhance their sales representation with world’s largest retailers like Walmart, Sam’s Club, Target, and many others. The company’s platform helps clients with reporting, analytics, replenishment management, and fact-based selling to create value for their products at retail stores, resulting in increased product sales. “Our focus is more than offering data or reporting, but to provide actionable data and sales analytics, replenishment or forecasting perspective,” explains James Harris, President, HIA.

High Impact Analytics platform collects all the data for clients from various sources like third party apps, retail POS to analyze the market trends across each category of their products. “We analyze each product category, identify trends, and create baseline trends to benchmark our clients’ performance,” notes Harris. HIA then layers data from third party or secondary sources that may not be captured by any individual store to further analyze the information and gain insights. “We work with client data to drive store count expansion through regional merchandising and modular optimization.” This way the client gets both quantitative and qualitative information on their product data from the factual and subjective findings through consumer feedbacks or promotions done on social media.

Our focus is more than just providing data or reporting but to provide actionable data and sales analytics, replenishment or forecasting perspective

“We aggregate all the information and present it in the form of heat maps or weekly reports for clients to understand the positive selling features,” says Harris. Further, clients can reduce lost sales as the platform also empowers replenishment by enhancing on-shelf availability and offering turn key recommendations to replenishment.

By focusing on scaling high end business intelligence tools to make them accessible to SMBs, the company brings business management aspects to various areas of retail market through analytics and dot com based sales management. The company’s stellar abilities in retail analytics have helped a number of clients to expand their growth in the retail market. For instance, a client dealing with apparel business seasonally lacked tools to analyze market trends, which led to either leftover or insufficient stocks. There was a 20 percent gap between what was required and what they had. Working with High Impact Analytics reduced the number to a single digit while considerably lowering the leftover inventory and improving sales.

Tracing the road ahead, High Impact Analytics is constantly working toward enhancing its platform functionalities— dashboard capabilities and its server technology used to store data. “We dig into new business intelligence tools and create our own proprietary tools for the retail space,” elucidates Harris, who brings his extensive experience from Walmart and Unilever Foods. Strongly advocating the e-commerce era, the company assists clients in empowering their online presence and targeting e-commerce to become 10 percent of their total business portfolio. “We are working toward empowering the coming generation by connecting the e-commerce and brick and mortar space so that a change in one area will impact another,” he concludes.