Using Real-Time Point-Of-Sale Data For Actionable Decisions
Understand And Act On Trends At The Speed Of Purchase
Business conditions for retailers have never been so competitive, so it’s more important than ever that you make available the right products – when and where customers want to buy them. To do that, you need to understand the real impact of promotions on stock levels and profits. When you properly align product selection, availability, and promotion with customer demand, you’re in the best position to drive growth. And if you can monitor hot-selling items ahead of your competition and ensure that your stores are well stocked with them, you can have a significant impact on sales, profitability, and customer shopping experiences.
Customer Demand – Is It Instant Or Non-Existent?
Without accurate insight into customer demand, you will not be able to maximize fast sellers, instore trends and high demand periods. You need real-time insight into what’s selling (and what’s not), how promotions are performing, and how external factors (such as weather) or competitive pricing actions are impacting demand.
Just consider these tough questions facing many retailers:
- Do you lose valuable time because analysts can’t correlate the different kinds of data required to create the reports you need?
- Is that because the format and quality of your point-of-sale (POS) and multichannel data are incongruent?
- Do your analysts have limited resources and tools to process all of this data?
The Fusion Advantage®™ Sales Solution:
“According to industry analysts, you can increase store sales by an average of 3.7% simply by avoiding out-of-stock situations”
By compiling sales data into a repository overlaid with data visualization software like SAP Business Objects™, you will have instant access to all sales data from all channels in real
time. With this application, you can utilize user-friendly, configurable dashboards and reports; make informed decisions that optimize sales; and facilitate timely followthrough
of revised plans across the enterprise.As a result, you can answer critical questions for your business and take action swiftly.
- Enable Business Users to Analyze POS Data
- Optimize Inventory Management Across Channels
- Analyze Promotions and Make Adjustments to Maximize Sales
- Optimize Store Operations
For example, you can address issues such as:
- How do I quickly respond to changes in shopper demand?
- How do I ensure alignment across functions to enable flawless retail execution?
- How can I keep promotional items on the shelves during the promotional period?
- How can I anticipate market changes either in advance or in near-real time?
- How do I offer the right assortment at the right place and time, and at the right price with the right promotion?
Key Quantifiable Value Points
- More profitable sales
- Better visibility into demand
- Insight into promotion effectiveness
- Optimized stock availability
- Increased consumer satisfaction
- Improved store profitability