Orion Star Sports & Outdoors Co. a good database software is a very important part of how will thrive in the market and stay on top of the sporting / outdoor retail industry
Finance and Blockchain
Joseph Cho
3/20/2021
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For Orion Star Sports & Outdoors Co. a good database software is a very important part of how
will thrive in the market and stay on top of the sporting / outdoor retail industry. There are
multiple reasons why choosing the best database software is key to the success of this business.
Not only do patrons come into the store to shop, keeping up with the customers ordering online
is also important. A good shipping strategy is important, and a feedback forum is important to
hear what the customers’ complaints are as well as writing good reviews to help the popularity of
the business. A good database can really make or break the business so it is important to shop
around and find something that will specifically address all the needs of the business such as
managing orders, managing inventory, payroll, etc. According to the data collected, this is
information about the top 10 selling products from Orion Star Sports & Outdoors Co. in the last
month by quantity, a description of the product, the price per unit and the total revenue in order
from highest to lowest.
To improve customer satisfaction, the right database will allow the business to provide easy and
fast service to customers. A good feature of the right database will be smart checkout
technology. This will handle all online customers with ease. With the current situation in the
world, a lot of people opt to do shopping online instead of going physically to the store and
purchasing items. The way in which this is done is simply by being in the comfort of one’s own
home and visiting the website on a computer or mobile device and making online purchases.
Another feature of the right database would be giving customers the ability to purchase items in
advance, so they just need a code to retrieve their items from inside the store without having to
wait in line. This is done using data connections enabled by mobile devices. It could involve a
QR code that is inside their phone to give proof of purchase. The right database system then
tracks the items that were picked out by the customers. Due to the system tracking the items
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within the store that were purchased by the customers, the customers can simply walk in, retrieve
the purchased items and leave without waiting in line or taking out their wallets to pay, since
everything was already paid for upon arrival in the store. Smart checkout technology is a very
good way to ensure customers wait times are down to a minimum but that the customers also
successfully get what they need and have purchased.
Customer engagement is also key in making sure that all customers receive information
regarding promotional creating a database is the best way to keep your customers’ information
tidy and up to date. It also allows for any customers and prospects, to build loyalty, provide a
better service and promote sales. This will help increase sales using email marketing,
telemarketing, and online marketing. This also allows the business to offer personalized
promotions custom tailored to each individual customer based on their searches and past
purchases tracked through the database. Customers can also stay informed about special offers,
novelties, etc. as well as offer quality care through the registration of special interests of each
client in the database.
Organization of the database structure is of utter importance. These can be organized in the
following fashion to maximize understanding of traffic patterns and keep track of all inventory”
Families and subfamilies
Categories and subcategories
Product attributes such as weight, size, color, strength, etc.
Variants of material, color, size and composition
Planning a secure system to easily locate all of the information is of utter importance and to
secure the information, keeping multiple backups is advisable.
If you opt for automation software that streamlines your editing and management of the
database, such as a PIM, you can import your database in no time and always have it obtainable
in the cloud, ready to work with and connect to all the platforms you want. Also, organizing
product information into a centralized database is the most effective way to gain effectiveness
and nimbleness in initiating and maintaining an online store.
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Being present in the virtual space can help capture an audience and the positioning and
promotion of brands. Social Networks are a great source of information for a database. This
allows for the analyzation of profiles of followers, after writing a post on Facebook, Twitter, etc.
The impact of each type of publication on people interested in your proposals can help with the
examination of customer engagement through the reviewing of the number of times different
products were shared, liked, and received comments.
Content marketing strategies can be improved by keeping track of what an audience likes the
most. Demographic profiles can be analyzed through these tactics as well, based on criteria such
as age, gender, and location, as a complement to your market studies. Below is a profit margin
chart based on the sales over the last three months and the various countries where the highest
profit was yielded. The top ten countries were involved in this list along with the profits made.
Using this chart, we can see where we can potentially focus our attention so we can maximize
profits in some of the other countries. In this chart, the Netherlands did not make it, nor did
Belgium, Taiwan, Spain, or Greece. Potential marketing strategies can be done after doing
market research in some of these areas to find out how revenue can be increased.
The database will be fast and easy to use. It will be a storage unit on the computer. Information
can then be stored to help better figure out the target market of products. Being able to access
this information is a huge game changer in the retail industry and makes it that much easier to
market products efficiently and effectively. Being that the United States yielded the biggest
profit over the course of the last three months, a similar chart is being broken down to see where
within the United States yielded the most profit. So below is a chart with the top 10 most
profitable states within the United States and the revenue yielded from those states.
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A closer look at marketing strategies in the areas where profits were not high will give the
business a better chance to succeed in areas where profit margins were low.
The foreseeable result of using database technology is the instantaneous increase in revenue for
the business. By having access to numerous types of business data, it makes it that much easier
to come up with ways to increase profit. By storing all business information using databases, it is
easy to figure out which products are selling well, and which are not. That can then be used to
allocate business’s resources accordingly. For example, if you check the data on which of the
products are selling more than others so more resources can be accurately distributed towards the
products that are selling poorly, or the products that are selling well, depending on marketing
strategies.
In summary, database technology has a huge influence on the retail industry and is very
important for businesses to use if they want to be successful. Since today’s consumers rely so
heavily on technology, it is crucial that businesses use it to their advantage.
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