Canada’s Lightspeed launches new data analytics tool for independent retailers
Canadian retail point-of-sale solutions provider Lightspeed has launched a data analytics tool to provide independent retailers with insights and recommendations into their sales, inventory, employee performance and customer behaviours.
Known as Lightspeed Analytics, the new solution gives retail merchants a competitive edge against bigger retail stores at an affordable price, according to the company.
The company seeks to provide services to retailers, which were previously available only to larger retail businesses.
Lightspeed Analytics aims to simplify the process of data collection, making it accessible, understandable and actionable for business owners and store managers, thereby enabling them to make better decisions.
The new technology provides insights into different segments of a retail business, including inventory management, customer insights, and employee optimisation.
Lightspeed founder and CEO Dax Dasilva said: "Access to complete analytics and business insights will empower independents with the tools they need to effectively grow, allowing our customers to dream bigger about the future of their business.
"Lightspeed Analytics is simple to navigate and makes the value of data easy to understand, which will give our customers the time and ability to make smarter business decisions."
Some of the Lightspeed Analytics tool-enabled independent businesses include Punchy's, Cook Culture, Skiis and Biikes and Bicycle Warehouse among others.
This new retail solution comes after Lightspeed launched its omnichannel retail product that enables retailers to integrate online and in-store sales channels last year.
Image: Lightspeed Analytics. Photo: courtesy of Lightspeed.