How can a cash program save on analytics?
Revenue growth and optimization of the assortment of goods - the challenges facing any store. To solve them, you need to regularly analyze the dynamics and structure of sales. Of course, this can easily be done using CRM systems. But here additional expenses are hidden: you have to buy software, train staff to work with it and monitor the correctness of data entry. In order to avoid these costs, take advantage of the cash program. We tell how exactly it will help to save on analytics.
Modern front-office systems accumulate a huge amount of information about sales of goods, on the basis of which it is easy to analyze internal marketing data. Namely:
- general analysis of the structure and dynamics of sales;
- analysis of stimulated sales (the effectiveness of the discount program and promotions, the effectiveness of advertising and marketing events).
Let us examine in more detail what useful reports a cash register program can generate for you. And we will do this by the example of our own development of Pilot - the Profi-T cash platform .
In Profi-T, all information about sales in a store is stored in a server database, which is updated automatically when each check is closed at the checkout. Therefore, with the help of dynamic reports, it is possible to track in real time the dynamics of changes in the store’s turnover in monetary and quantitative terms during a cash shift.
Thus, we can see changes in the volume of revenue by the hour, the number of customers passing through the cash register, the average check and the maximum purchase price.
Any analyst is interested in comparing data for certain periods: for example, the most popular products among buyers last week and the current one. The report “Best Sales Products” will help in this. It is enough to indicate the time period of interest to you and the number of top products, for example, the top ten (top 10). For clarity, the report is supplemented by a chart.
Thus, you can easily plan what products you need to buy or what products it would be nice to plan a promotion if the task is to increase turnover.
Chart Weekly Summary Report
Under the influence of various factors, revenue in alternating periods may fluctuate. Track the changes in the amount of sales, the number of purchases, as well as the size of the average check will help "Consolidated weekly report with charts." To build it, just specify the desired period. This will help to keep track of the dynamics of changes in the store’s turnover in monetary and quantitative terms.
The user can select the reporting period of interest to him. For example, in the figure, this is 2018 and the weeks from 27 to 35. The
report is built in Exel format, and includes data on the requested period - from 27 to 35 weeks of 2018. By asking a similar period, but in 2017, we can get the dynamics of the indicators and analyze it.
Charts, built according to the report, perfectly visualize the dynamics of indicators. For example, the amount of sales, their number or the number of customers.
Unloading product reports in Excel
The analysis of internal marketing information in retail for 85-90% consists of processing sales data. Profi-T has a standard mechanism for uploading sales statistics to Excel. These are commodity reports, which can be built for the desired period (for example, an operational day) of time both for the entire nomenclature and for the selected group of goods. Let’s analyze information on the category “perishable goods”.
When generating a report, the time period, groups and segments of goods of interest are selected.
Having primary sales data, we can get almost any analytics using standard Excel tools. For example, determine the coefficients of the growth rate of revenue or variation and, thus, assess the stability of sales.
It is equally important to imagine, and what kind of people come to your store? How solvent are they? How much are you willing to spend on purchases? It is easy to study the portrait of the buyer, it is enough to compare the ranges of the sums of the shopping basket. With this knowledge, you can plan promotions. Or use them when purchasing products.
In “Profi-T” there is an opportunity to analyze the database of purchases made for a certain period and receive a report on the number of checks falling in the given ranges. For example, find out how many customers prefer inexpensive goods and collect a basket of 500 rubles or less. Or, conversely, consider how many people make purchases worth more than 5,000 rubles.
Stimulated Sales Analysis
It’s not enough just to have a promotion. For the success of the store you need to carefully analyze its results. This can also be helped by data obtained through the cash program. One such report is the “Product Promotions Report”. In order to build it, you need to specify the time period of the action, and then export the data to Excel format.
So, to analyze sales data and not spend money on a CRM system, which means saving the store’s budget, is quite realistic. This will help standard reports of the cash program, as we saw with the example of the Profi-T cash platform, and the use of the mechanism for downloading sales data from the cash server database in Excel.
By the way, if you need to demonstrate reports for management, then they are easy to make presentable and bright. To do this, just connect from MS SQL to the BI system (for example, like PowerBI, we used it in a number of projects. There is a free version that is quite suitable for solving the tasks of small retailers). Then the reports will be interactive, it will be possible to use any visualization. And access to them will be open on all devices, and your managers will be able to view reports.