In today's data-driven world, retail media marketers rely heavily on data visualization to gain meaningful insights. With the wealth of data at their fingertips, the right visualization tools are critical to connect the dots and guide strategic decisions. From those provided by retail media networks to bidding platforms, there's no shortage of resources to illustrate data, often in a simple way. However, for a holistic, integrative, and flexible analysis, Business Intelligence (BI) tools stand out from the crowd.
This is why an increasing number of retail media marketers are leveraging business intelligence (BI) platforms like Looker / Looker Studio and Power BI alongside mimbi over conventional visualization tools.
Limitations of traditional data visualization tools
While basic data visualization tools have their place, they have some inherent limitations:
- Lack of customization - Most traditional visualization tools have fixed templates and limited styling options. This makes it harder to create customized reports and dashboards tailored to specific business needs.
- Manual processes - Basic visualization tools often require manual data manipulation before visualizing. This makes updating dashboards and reports time-consuming.
- Limited interactivity - Traditional visualization tools generate static charts and graphs. This restricts the ability to interact with data and drill down into details.
- Difficult to scale - Visualizing large, complex datasets is cumbersome without robust data modeling capabilities. This hinders the ability to accommodate growing data volumes.
- Minimal collaboration - Features like interactive dashboards, automated report distribution, and sharing capabilities are absent. This restricts effective data storytelling and collective decision making.
Some of the questions that can be answered with basic tools include:
- What was the return on ad spend (ROAS) across all retail media channels in 2023?
- What percentage of sales can be attributed to retail media advertising?
- What's the current budget allocation across all platforms?
The power of dedicated BI Tools
Modern BI platforms like Looker and MS Power BI transcend basic data visualization with enterprise-grade capabilities:
- Simplified data modeling - Intuitive, self-service data modeling makes it easy to structure complex data from diverse sources.
- Customizable dashboards - Interactive dashboards allow users to filter, segment, drill down, and visualize data tailored to specific needs.
- Automated updates - Reports and dashboards update automatically as the underlying data changes. This eliminates manual refresh needs.
- Scalability - With in-memory caching and advanced data compression, vast datasets can be handled with ease.
- Governance - Granular access controls, audit logs, and end-to-end data security meet stringent governance needs.
- Sharing and collaboration - Interactive dashboards can be easily shared, annotated, and updated in real-time to facilitate data storytelling and collective analysis.
Why Retail Media marketers love Looker/Studio and Power BI
With their advanced feature sets, Looker and Power BI offer significant advantages for retail media marketers or their agencies:
- Accelerated analysis - Intuitive, self-service data modeling and visualization capabilities allow users to go from data to insights much faster. Marketers spend less time preparing data and more time analyzing results.
- Customized data exploration - Users can create interactive dashboards tailored specifically to their business goals, KPIs, and desired segmentation. This flexibility is invaluable for retail media analysis.
- Simplified data integration - Seamlessly blending data from diverse sources provides a holistic view of campaign performance. This is invaluable given the multitude of retail media data sources.
- Enhanced collaboration - With features like real-time dashboard sharing, annotations, and comments, teams can collectively analyze results and strategize. This amplifies the impact of data insights.
- Scalable infrastructure - Ability to handle exponentially growing data volumes from an expanding roster of retail media channels, partners, and touchpoints with speed and agility.
Some of the questions that can be answered with advanced BI tools include:
- How do different types of retail media ads (product listing, sponsored brand, etc.) compare in performance?
- Are there any anomalies in the pricing of our recent media buys?
- What is the breakdown of sales by product category for campaign A?
mimbi + BI = winning combination
As a robust retail media analytics platform, mimbi integrates seamlessly with Looker and Power BI to offer the best of both worlds.
This end-to-end integration allows retail media marketers to harness mimbi's specialized retail media analytics and marry them with the self-service visualization power of Looker or MS Power BI.
Want to see your retail media performance by funnel stage? Easy to do:
Need a cross-retailer view of your performance? Done:
The result is accelerated analysis and highly customized data exploration capabilities that drive smarter retail media decisions.
The bottom line
Given their limitations, conventional data visualization tools often fall short for today's data-driven retail media marketers.
Dedicated BI platforms like Looker and Power BI eliminate these constraints with enterprise-grade capabilities.Coupled with mimbi's retail media analytics, Looker / Looker Studio and Microsoft Power BI offer the perfect solution for marketers to visualize data their way. This empowers smarter, faster decisions through highly customized analysis tailored to specific business needs. The power of mimbi + BI is truly a game changer for retail media!