How do you make decisions for your business? Do you rely on gut instinct? Traditional knowledge? How do you measure success? How about failure? How do you quantify growth?
Retail analytics and reporting help you go back up your instincts and confidently make decisions. Data helps you set realistic goals for your retail store, and can help you respond to changes in customer behaviour.
In a nutshell, retail analytics is the use of data to measure the performance of a retail operation. These measurements help merchants make better decisions for the health and longevity of their business.
Retail analytics goes beyond just checking sales figures and profits at the end of the day. It’s also useful for all aspects of inventory management, accounting, cash flow management, employee scheduling and much more.
Having a way to concretely measure sales, inventory and employee performance is crucial to optimizing your operations in the face of changing customer behaviour.
Social distancing has changed everything, and merchants need a way to gather actionable insights on their new reality. Lightspeed Analytics Core helps merchants to quickly gather in-depth analytics and keep on top of what their business needs to succeed.
Access to robust analytics is crucial to running a data-driven business—but with all the changes retailers are making to serve the new needs of their customer base, many don’t have the time to use a complex analytics platform. They need reports and data that are affordable to access, and quick and easy to use.
By using Analytics Core, retailers can get access to comprehensive reports which they can act on with less expense and less time, including:
Analytics Core isn’t just for measuring in-store data—it gives retailers a clear view of how their business is performing across online and offline channels. Taken as a whole, Analytics Core puts retailers in control with in-depth insights about their operations, exactly what they need in the face of uncertainty.