In retail business intelligence, the most essential piece of business intelligence (BI) management and owners need in order to continue driving profit, increase efficiency, and manage multiple locations is the number of people walking through your door. Sales rates, per-ticket costs, and location profit and loss are useful, but without counting people in the door, your business systems do not have the information necessary for good decision making.
Location, Location, Location
Location is the most essential piece of running an essential retail business; differentiating good locations from the best locations is nearly impossible without the right KPIs (Key Performance Indicators). Any good business owner can walk through a neighborhood and tell whether it is going to be good or bad for a retail business. In order to choose whether to relocate or which locations are essential, you need the essential KPI of feet through the front doors.
The right BI comes with the fundamental knowledge of your business’s customers: how many potential customers come in the door, and when do they come?
Quality Improvement Processes
If you want to set off and go develop some grand new thing, you don’t need millions of dollars of capitalization. You need enough pizza and Diet Coke to stick in your refrigerator, a cheap PC to work on and the dedication to go through with it.
With the right BI, your business has the ability to manage hours, sales, advertising and more to improve your income. Additionally, with POS, CRM and people counting software systems providing multiple streams of analysis, you have the ability to continuously, accurately assess the effectiveness of employees and sales processes.
Track your leads levels when they walk in the door and simply compare and contrast with CRM conversion analytics. This gives you the fundamental resources to analyze your business processes and compare between different locations and with industry norms.
Businesses used to do spot checking to discover how many customers would walk through the door on any given day, hour, week or at a specific location. With counting software integrated into your Axis camera systems, you develop the automatic BI to analyze trends continuously, and not have to pay someone to stand at the door counting.
The information revolution is giving businesses in every industry, including retail, the ability to accurately track and analyze business processes. This is of great benefit to SME retailers who need to compete with the perfect processes of Fortune 500 retailers without the increased costs of running a data management team. To discover how PCount increases your analytics and BI, contact us: Make perfect possible with the right information!