Data drives better retail

One point that divides my clients are those who use point of sale data systematically and those that do not and are purely gut-driven.

Both are important but overtime a business that uses data when making decisions will win. Simple they have more information, so their decision making will be better as the information will help them make smarter decisions in their business.

With our system, you have 100s of reports, if you want more you can use excel to produce a limitless number of reports personalised to you. I find just doodling on excel extremely enlightening. If you want more you can throw this data into an automated data mining program and see what insights an AI can produce.

Using this with data you can home in rapidly on specific issues, so use your POS software to dig into your sales data so you can make more reliable decisions.

Here is one tip that a major Coles buyer told me, at any time he wanted 12 new items on the shelf. When I said to him, you have 100s of items on the shelf now, is 12 enough, he replied yes, whether I have 100, 1000 or just 10, I want 12 new items to experiment with at all times. He does not work in the shop, he has no gut feel from the shop floor, he works only by data. Now how many new items do you have *NOW* in your shop?