Top 3 reasons to get into Multi-Channel Retail

Multi-channel retail, which nowadays understandably includes online channels, is something you just have to do this year. Every single day you put off doing it, the competition gobbles up market share that should have been yours. There are a number of reasons why even successful retailers are now going into multi-channel retailing. Here?s three of the most important ones.

1. You’ll get a BIG jump in sales

Not counting this year, which could be getting a big boost from major activities like the Queen?s Diamond Jubilee and the 2012 Olympics, sales of UK retailers have been experiencing tremendous growth particularly from their online channels. Already two years ago (2010), a number of UK retailers boasted significant increases in sales as a result of multi-channel retail initiatives. These retailers included:

  • Argos, which got a whopping ?1.9bn from multichannel sales back then;
  • House of Fraser, which reported a 150% jump in its online sales in just 6 months; and
  • Debenhams, whose profits rose by 20%

There were many others. Now, the reason I?m showing you 2010 figures is because online retail sales increased by 14% in 2011 and those same businesses still added to that growth. So, if only you had enough foresight and started expanding your business to the Web two years ago, you could just imagine what your sales would have been today.

The good news is that, it’s not yet too late if you start now. Here?s why…

2. Those numbers are going to keep on growing

We’re getting all sorts of predictions from leading researchers regarding the possible growth of the Internet economy. All these predictions have one thing in common. They all have a positive outlook. The Boston Consulting Group (BCG), for instance, predicts an average growth of no less than 10% per year in the G-20 nations.

3. Most online retailers aren’t doing it right yet

Although many retailers have already started bringing their business to the Web, most of them are doing it the wrong way. For example, many of them fail to integrate their offline and online channels. This is a serious shortcoming because it leads to customer dissatisfaction.

When a customer goes to your website and sees something he likes, you wouldn’t want him to drive all the way to your store only to find out that the item isn’t available there or, if the item is there, that it isn’t priced as he expected. The lack of multi-channel integration is very common among multi-channel retailers.

These inadequacies are actually good news because it means there are still many areas you can improve on. After improving on them, you can then highlight those areas as your key differentiators.

If you’re still looking for more reasons on why you should go into multi-channel retailing, read this post:

“5 Numbers Showing Why the Time to Invest on eCommerce in the UK is Now”

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Is Change Management a Myth or a Possibility

The theory that it is possible to manage organisational change (Change Management) in a particular direction has done the rounds for quite some time, but is it true about Change Management. Was Barrack Obama correct when he said, ?Change will not come if we wait for some other person or some other time. We are the ones we have been waiting for. We are the change that we seek.?
Or, was business coach Kelly A Morgan more on the button when she commented, ?Changes are inevitable and not always controllable. What can be controlled is how you manage, react to, and work through the change process.? Let us consult the evidence and see what statisticians say.

What the Melcrum Report Tells Us

Melcrum are ?internal communication specialists who work alongside leaders and teams around the globe to build skills and best practice in internal communication.? They published a report after researching over 1,000 companies that attempted change management and advised:

? More than 50% report improved customer satisfaction

? 33% report higher productivity

? 28% report improvements in employee advocacy

? 27% improved status as a great place to work

? 27% report increased profitability

? 25% report improved absenteeism

Sounds great until we flip the mirror around and consider what the majority apparently said:

? 50% had no improvement in customer service

? 67% did not report increased productivity

? 72% did not note improvements in employee advocacy

? 73% had no improved status among job seekers

? 73% did not report increased profitability

? 75% did not report any reduction of employee absenteeism

This shows it is still a great idea to hear what all parties have to say before reaching a conclusion. You may be interested to know the Melcrum report gave rise to the legend that 70% of organisation change initiatives fail. This finding has repeated numerous times. Let’s hear what the psychologists have to say next.

There is a certain amount of truth in the old adage that says, ?You can lead a horse to water but you cannot make him drink.? Which of us has not said, ?Another flavour of the week ? better keep heads down until it passes? during a spell in the corporate world. You cannot change an organisation, but you can change an individual.

At the height of the Nazi occupation of 1942, French philosopher-writer Antoine de Saint-Exup?ry said, ?A rock pile ceases to be a rock pile the moment a single man contemplates it, bearing within him the image of a cathedral?. Psychology Today suggests five false assumptions change management rests upon, THAT ARE SIMPLY NOT TRUE.

1. The external world is orderly, stable, predictable and can be managed

2. Change managers are objective, and do not import their personal bias

3. The world is static and orderly and can be changed in linear steps

4. There is a neutral starting point where we can gather all participants

5. Change is worthy in itself, because all change is an improvement

Leo Tolstoy wrote, ?Everyone thinks of changing the world, but no one thinks of changing himself.? A prophet can work no miracles unless the people believe. From the foregoing, it is evident that change management of an organisation is a 70% impossibility, but encouraging an individual to grow is another matter.

A McKinsey Report titled Change Leader, Change Thyself fingers unbelieving managers as the most effective stumbling stones to change management. To change as individuals ? and perhaps collectively change as organisations ? we need to ?come to our own full richness?, and as shepherds lead our flock to their ?promised land?, whatever that may be. Conversely, herding our flock with a pack of sheepdogs extinguishes that most precious thing of all, human inspiration.

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How AI Helps Improve Field Service

Its seems that with the current rate of technological innovation that these is something new every single day.  Therefore, you’re always looking forward to a new technological innovation that’s going to help you make your business operations more efficient and automated.

One of the most fascinating milestones in the field of technology is the integration of Artificial Intelligence (AI) in business. In one way or the other, AI gives a glimpse of machine supremacy that allows computers to perform tasks that were initially performed by humans. 

Are machines going to completely replace people in the workplace?

Of course, not.  Technologies like AI and Machine Learning are designed and meant to support employees in doing their tasks too boost their productivity.

AI is predominantly used to eliminate jobs and tasks that humans find boring, demotivating or monotonous. In some cases AI is also used to do jobs that are considered dangerous for humans to preform.

Previously the most common implementations for AI were all about gaming, entertainment, and advanced science,  now it’s spreading into a number of industries including the field service industry.

FieldElite – Field Service Software , can help you optimise the day-to-day operations of your business.

AI in field service management will enhance you business capabilities with:

  • Information Sharing
  • Real Time Updates
  • Automated Workflows
  • Digital Form Data Collection
  • Data Analysis

Improved Customer Service

For Service Based companies, customer retention is vital. Primarily because It can be 5-25 times more costly to acquire a new customer than it is to retain an existing ones.

Therefore customer retention should be a primary focus.? The good news is that by making use of AI you can implement services It can be 5-25 times more costly to acquire a new customer than it is to retain an existing one.

Staying on top of and ensuring you satisfactorily address and meet you customer demands and expectations can be a daunting task.? It can also be an expensive one,? especially for small field service based businesses like :

  • Heating & Plumbing Engineers
  • Electrical Contractors
  • Fire Safety Inspectors
  • HVAC Engineers
  • Facility Management
  • Building, Construction & Trade

Implementing Artificial Intelligence and Machine Learning to automate mundane and repetitive customer administration tasks will enable your staff to be free to provide additional value added tasks for your customers. Making your customers happier.

?Think about the active Chatbots. You can always get complaints directly from customers and address them right away.??

If at any point the customer is unhappy with your services, they can always raise the issue via the Chatbots. Since the bots contain necessary customer information, you can always get back to them and fix the issue at hand.?

With AI in field service, you can solve problems before they arise, or what is otherwise known as predictive maintenance,? In that way, you’ll have better customer relations because you’ll be able to address your customer concerns before they even become aware of them.

Improved Productivity

Scheduling tasks and managing the workforce isn’t a walk in the park. It goes beyond assigning tasks to your team members in the field and giving them deadlines to meet. Whether it’s a small firm or a big organisation, it’s quite difficult to organise the workforce.?

However, adopting Artificial Intelligence can iron out the difficulties most field organisations face in scheduling and managing tasks. Some years back, most firms relied on human intelligence to dispatch jobs to the right people based on given conditions. This was quite difficult, especially that it wasn’t always successful. But thanks to AI. With field service apps like FieldElite scheduling tasks and managing workforce is only a few clicks away.?

What’s more? There?s no room for error. Therefore, you’ll always match the right people for the job. Again, your team will always get tasks on time. That means, the job completion rate will go up, and hence the workforce becomes more productive.?

Predictive Maintenance

Usually, most business operations are based on ?solve the problem as it occurs?, which is just OK. However, it’s not always safe to wait until a problem occurs so that you solve it. Prevention is better than cure, and that’s why Artificial Intelligence comes handy in Field Service.

Using FieldElite Workforce Management Software , you don’t have to wait until something breaks.? Utilizing AI in field service enables you to proactively address field service needs and prevent unforeseen failures and interruptions.?

The ability to predict field service needs through field service apps like FieldElite enables you to make more accurate forecasts. In this way, resource planning is made easier, and as such, you’ll have smoothly running workflows. Again, by taking care of unforeseen circumstances in advance, you’re flexible enough to take care of the unexpected. And that means the overall productivity of your business will go up.

Job Management

Most field service jobs involve multiple stages that can take several days to complete. In addition to this, more often than not, you have to coordinate lots of equipment and contractors at the same time. All these can’t be achieved solely by human efforts. For more successful outcomes, it’s important to incorporate Artificial Intelligence in your field service operations.?

FieldElite is the field service solution that can help you manage sophisticated tasks. The app is packed with field service management tools that enable you to assign complicated tasks and keep track of your field techs. For long-cycle jobs, FieldElite app enables you to follow up on the activities going on the field to ensure they’re completed.?

With AI, there?s no room for error even when the jobs become more sophisticated.

Data Analysis

?

Field service industry involves lots of data. Some years back, organisations depended on human intelligence to analyse big data. Well, things still worked out, but as a human is to err, the outcome wasn’t always perfect. However, with Artificial Intelligence data analysis, 100% accuracy in data analysis is achievable. Field service solutions like FieldElite provide sophisticated data analytic tools that enable you to crack massive data and offer accurate solutions.?

FieldElite data analytics capabilities give you an insight into what’s not working and what needs to be improved. In that way, you can always address matters arising and take care of the loopholes.?

It’s time to go paperless with field management software like FieldElite if you?d like to make your business more profitable. Apart from improving the productivity of your workforce, incorporating AI in your business increases profitability. If you’re still doing your usual field rounds with a clipboard, it’s time to simplify your task with FieldElite app.?

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Are Master Data Management and Hadoop a Good Match?

Master Data is the critical electronic information about the company we cannot afford to lose. Accordingly, we should sanitise it, look after it, and store it safely in several separate places that are independent of each other. The advent of Big Data introduced the current era of huge repositories ?in the clouds?. They are not, of course but at least they are remote. This short article includes a discussion about Hadoop, and whether this is a good platform to back up your Master Data.

About Hadoop

Hadoop is an open-source Apache software framework built on the assumption that hardware failure is so common that backups are unavoidable. It comprises a storage area and a management part that distributes the data to smaller nodes where it processes faster and more efficiently. Prominent users include Yahoo! and Facebook. In fact more than half Fortune 50 companies were using Hadoop in 2013.

Hadoop – initially launched in December 2011 ? has survived its baptism of fire and became a respected, reliable option. But is this something the average business owner can tackle on their own? Bear in mind that open source software generally comes with little implementation support from the vendor.

The Hadoop Strong Suite

  • Free to download, use and contribute to
  • Everything you need ?in the box? to get started
  • Distributed across multiple fire-walled computers
  • Fast processing of data held in efficient cluster nodes
  • Massive scaleable storage you are unlikely to run out of

Practical Constraints

There is more to Hadoop than writing to WordPress. The most straightforward solutions are uploading using Java commands, obtaining an interface mechanism, or using third party vendor connectors such as ACCESS or SAS. The system does not replace the need for IT support, although it is cheap and exceptionally powerful.

The Not-Free Safer Option

Smaller companies without in-depth in-house support are wise to engage with a technical intermediary. There are companies providing commercial implementations followed by support. Microsoft, Amazon and Google among others all have commercial versions in their catalogues, and support teams at the end of the line.

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