Plants aren’t the only things that are plentiful when it comes to wholesale nurseries. The industry also generates an incredible amount of data. Like the plants, the data can be a treasure trove if cultivated correctly.
In order to harness the data in a way that can provide important insights, businesses need a solution that works for them. Here’s how analytics can help a wholesale nursery make certain decisions, and what to look for in the right analytics solution.
Growth
Everything starts with the plants, and in most cases, organizations already have the data they need about plant growth. It’s just a matter of putting that information to work to gain insights that can drive decisions:
- Optimal plant spacing: Data can help inform decisions about the best use of the space you have available. This could mean making the most of a small space or just being more strategic about what plants thrive in which places.
- Growth quality: Data can provide answers about how plants thrive as well. Sensors can track soil, water, light, and many other variables to make sure plants are in the environment they need. Any potential problems can be identified, whether it’s disease moving through the plants or pests interfering with their growth, and any necessary interventions can be implemented before small problems become big ones.
- Plant types: Market trends data helps nurseries know what plants are selling today while also giving them an idea of what might happen in the future.
Sales
Just because the plants are thriving doesn’t automatically mean the business is also thriving. Analytics can help ensure an organization is finding success in both areas:
- Inventory: In the same way the data can help inform what to plant, it can help an organization track what plants they have available. The numbers can work hand-in-hand, as nurseries don’t want too much of one item as overstock, while also trying to make sure popular plants are available at all times.
- Pricing: In addition to providing overall market information, allowing for comparisons, analytics can give organizations insight into the impact certain price points have on their specific business.
- Efficiency: Analytics have the potential to open your eyes to all aspects of your business. By choosing which procedures to focus on, you can discover where you might be spending unnecessary time or too much money. Unlocking these efficiencies will improve your organization’s bottom line.
Customer interactions
The more successful you are at establishing a personal connection with customers, the more likely they are to return. Analytics can help in that department as well:
- Personalized preferences: Analytics can parse the data to a personal level, allowing an organization to gain insight into purchasing behaviors by certain demographics.
- Marketing: Once customer preferences are established, the data can be used to help develop marketing strategies and the personalized approaches that will result in loyal customers and increased sales.
One of the most important aspects of analytics is understanding how you want to use the data. Although comparisons can be made between businesses in the industry, individual businesses are all different, and a one-size-fits-all solution might not work for everyone. It is important to find a partner that will work with you and your data to provide the best results that are specific to your organization.
An organization can choose to individually focus on each element listed above. The best analytics solutions, though, are able to integrate all of the information to provide a comprehensive overview of an organization and the best ways to approach the business, from the moment a seed is planted to when a sale is complete. Everything is connected. Inventory numbers depend on sales information which depends on customer interactions.
On top of that, the solution needs to be flexible enough to adapt to the changes in the data over time. In other words, growth for wholesale nurseries doesn’t just apply to the plants.
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