G2E PREVIEW
There’s a goldmine in your POS data…
…says Agilysys, the company re-imagining hospitality on booth 3800. This company is a must-visit at G2E 2017
A
re you exploring it, mining it and leveraging it to your advantage? Used wisely, POS data analytics can lead to decisions and innovations to help you strike it
rich. Real-time information is more important than you may realize. Having a single platform that captures all
guest interaction data in real-time must be a priority for your business. Unfortunately, it’s common for operators to use siloed systems that don’t work well with each other. Disparate data sources limit your understanding of guest preferences and spending patterns, which has a noticeable effect on your bottom line. Bringing information together from multiple data sources is a highly complex and time- consuming endeavor, but it can be done with the right resources and guidance. A single platform - that is, a POS with integrated analysis and visualization tools – will help deliver complete POS guest data that’s not only timely, but actionable.
What your POS Analytics Should be Telling You
Simple or complex, analytics represent the
future of the guest experience. The best POS analytics software should provide all the metrics and reporting tools necessary to make decisions that improve business and it should be easy to access. Ideally, operators have a platform with embedded analytics and profit center-specific dashboards.
Repeat Guest Rate Armed with data on revenue, orders, frequency
of visits, average dollars spent, best-selling and least-popular items, etc., you can focus on how existing guests are affecting your bottom line. Visibility into data across multiple guest interactions and points in time helps you understand your “repeat guest rate”. This is essential to making effective business decisions, ensuring you always have the most popular items for repeat purchasers and delivering consistent experiences that support your brand value.
POS reports and dashboards offer real-time,
accurate information as guidance when making the simplest, or most complex business decisions. POS data and analytics are essential to successful growth in a highly saturated, competitive marketplace. Making business decisions with poor or missing data is risky. Having this information at the ready will help you identify trends and preferences so you can make the appropriate decisions to optimize your bottom line.
SEPTEMBER 2017 81 What’s Selling Goods come in and goods go out. That
inventory flow, whether steady, variable or static, says a lot about your guests and their preferences. It tells you what items aren’t moving so you can determine if those items need to be repositioned, or if it’s better to close out the item altogether. Either way, it’s important to understand which items are just sitting on the shelf. In this case, it may be wise to begin by developing an incentive promotion to steer guests to those items.
POS data and analytics are essential to successful growth in a highly saturated,
competitive marketplace Staff Metrics
In addition to keeping an eye on overall labor
costs, table turn times, tip percentages or upsell revenue, POS analytics can help identify other employee performance trends. Maybe you’re seeing higher item returns during a certain shift, or from a certain terminal. This often can indicate an employee who needs additional training. Comparing inventory levels with revenue can also bring attention to potential theft. Gone unchecked, these guest service areas can significantly increase costs, negatively affecting your bottom line.
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