SPARK EPOS | Blog

Data-Driven Insight: Successfully Utilising Business Analytics

Written by Team SPARK | Feb 6, 2024 9:15:00 AM

In the dynamic landscape of retail and hospitality, staying ahead requires more than just managing day-to-day operations. The key to success lies in harnessing the insights provided by cutting-edge technology. With our SPARK EPoS System, not only can you streamline your point of sale, but you also gain access to analytics and reporting features. Depending on what additional products are included in your SPARK package, you can view analytics and reports for the various aspects of your business.

 

Managing Sales Data

A summarised dashboard, filterable by daily, weekly, or monthly parameters, offers a comprehensive view of your sales data. Explore essential figures such as sales type (card, cash, etc.), tips, average transactions, and net sales. These metrics aid in improving your sales strategies for optimal profitability.

Other key sales analytics included in your summarised dashboard are the top five products for the week. Got a new product that isn't in your top 5? Then you can focus marketing strategies on these products to improve sales. Knowing your top products can also help with strategic inventory management.

 

Gift Voucher Sales

Your business may be good at selling gift cards but it's important to know which gift cards are selling better than others. Identify your most sold gift cards to understand customer preferences and implement a marketing plan to boost the sales of unsold gift cards.

Keep track of your revenue with our reporting feature. This data-driven approach ensures you are well-informed on which promotions are thriving and when allowing you to tailor future marketing efforts for maximum impact.

 

Successful Staff Scheduling

With our Staff Scheduling software, you can do more than simply manage your staff rota. Identify your top selling employees then you can provide acknowledgement and even reward your top performers. Recognising and appreciating their efforts not only boosts morale but also cultivates a healthy, competitive environment

Another way to boost morale and create a healthy competitive environment is by setting staff target reports. Setting targets incentivises your staff to strive for excellence, contributing not only to their growth but also to the overall success of your business.

 

Strategic Reservations

Efficiently managing reservations not only benefits customers but also optimises staffing during peak hours, ensuring a seamless and enjoyable experience for your guests. Knowing your busiest times of the day is crucial for strategic resource allocation, allowing you to provide exceptional service when it's needed most.

Additionally, understanding the Average Covers and Average Covers Spent enables you to make informed decisions about table turnover and pricing strategies. This strategic approach not only enhances customer satisfaction by maintaining a lively atmosphere but also maximises revenue during high-demand periods, ensuring your business thrives in the busiest hours.

 

Customer Management

Building lasting customer relationships requires understanding your clientele. Our CRM Analytics Dashboard displays a variety of customer demographics from age to gender. Knowing the audience you're acquiring can help you figure out which demographic you need to target if you want to broaden your audience.

You won't just be able to view your demographic, you can also see your average member spending range. If your average customers are spending £10 then maybe offer a promotion that gives your customers the incentive to spend more. Crafting targeted offers based on customer spending behaviour ensures a personalised and engaging experience, fostering loyalty and repeat business.

 

In the competitive realm of business, strategic decision-making is the key to thriving rather than just surviving. The SPARK EPoS System, with its robust analytics and reporting features, empowers businesses to make data-driven decisions. From understanding sales trends to optimising staff schedules and leveraging customer insights, SPARK can guide your business to success.