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How a Data-Driven Point of Sale Becomes a Reality

Posted by Sabina Mierzowski on Sep 6, 2017 5:43:18 PM

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minubo store monitor blogWhen data-driven work is discussed in the media or in specific magazines, the primary focus is on enabling strategic and operational roles in the corporate centers of commerce organizations, but employees who work every day in the stores and deliver the goods to the customer, are not included.

In fact, data-driven decisions are made almost exclusively in the management departments and at the management levels of departments within a commerce organization. The individual employees in the stores generally do not have access to their store data. This means that those employees are neither able to establish data-driven work and decision-making processes, nor can they understand the interdependencies and relationships within their stores and directly monitor or influence the performance of their products – until today! 

How Important is Access to the Data for Employees at the Point of Sale?

In-store employees must act almost exclusively according to their gut feeling to generate the highest possible sales and to manage their business as best as possible. This is because a system or application has been missing, which would allow these employees to quickly and easily gain insight into their store data and thus provide information on the performance of their store business. And yet it is precisely these insights that can lead to a maximization of the sales quota, an optimization of the (stock) inventory and the early initiation of sales promotions.

Some may now think that it is sufficient if the data is examined in the headquarters and the results are then translated into concrete instructions for the staff in the stores. We disagree and would like to outline with three different situations how the enablement of ins-store staff has a positive cross-company impact.

Data-Driven Point of Sale 1: Identify Sales Potentials & Encourage Sales-Promoting Measures

During a sales day, countless customers come and go. Some buy one product or another, whereas others just browse and get inspired by offers in the store. However, to plan and organize a sales day, an employee in a store wants to know which products are selling well and how the sales evolved the day before or during the week. With this knowledge, in-store employees can take direct action, for example, to influence the sale of certain products.

If the employee sees, for example, that the Used Jeans, which are placed at the back of the store, have been bought very often, they could further increase sales by placing the Used Jeans in the display area at the front entrance. Or vice versa: the new collection has not yet aroused any interest at all – time to optimize the presentation to boost sales. Without insight into the store data, such steps could not be undertaken or else would involve the loss of too much time until the data is evaluated at a central location and then passed on to the store. Lost time is lost money in this case.

Data-Driven Point of Sale 2: Identify and Exploit Cross-Selling Potentials 

The more products a customer buys at the end of their shopping trip, the better for the day's sales of a store. However, it is often difficult to see which products sell best together, and which product combinations are also of interest to customers. In the case of such decisions, employees at the point of sale must rely exclusively on their gut feeling or their experience.

A look at the history data of individual products within the store provides valuable information. Employees at the point of sale can identify cross-selling potentials and use this knowledge to specifically influence the sale of certain products. So that, at the end of the business day, maximum sales can be achieved. 

Data-Driven Point of Sale 3: Performance Enhancement Through Internal Benchmarking

Depending on the size of a commerce organization, the store business extends across multiple locations in a country or across the world. As a rule, every branch works independently – like a small microcosm, independent of other stores and without knowledge or awareness about the happenings in other locations. 

However, employees can learn a lot from performance data from other locations and perhaps even get inspired by the information from the other stores in order to optimize their own performance. Employees in the store are encouraged to avoid the thought of having nothing to do with the other stores – instead, they are encouraged to look at the data of other stores in order to search for new ideas or initiate new actions. These synergies can lead to an increase in sales turnover for the entire commerce organization.

Using the minubo Store Monitor for a Data-Driven Point of Sale 

Single-Point-of-Truth_Title.jpgThe implementation of a data-driven work and decision-making culture is not only a challenge for the point of sale. Internal barriers are often a central factor that hinder a data-driven way of working within a commerce organization: The data is isolated in data silos and cross-company data is inaccessible.

But at the point of sale, a data-driven work and decision-making culture is of great importance, especially when one realizes that a large part of the sales turnover of a commerce organization is generated, or a large part of the customers' purchasing decisions, are made there – without access to this important data, the employees are neither able to influence the sales development nor any other purchasing decision.

Store Monitor_Screen.jpgTo provide employees in the stores with the exact data they need to make data-driven decisions – we want to make this a reality and, therefore, we developed an exciting new product: The minubo Store Monitor. This is an app that can be installed on any mobile device, providing easy and fast access to the relevant data. The app is equipped with best-practice reports, so there is a need to do some conceptual work beforehand in order to build the appropriate reports and to think about the appropriate POS metrics. With our industry know-how, we provide you with a solution that offers precisely the analysis possibilities that the employees in the store need for their daily work.

The special feature of the minubo Store Monitor is that it is based on our omni-channel database. minubo opens up the data silos in the company and creates a holistic view of the organization – data from the order management system, from the eCommerce platform, from the webtracking tool, as well as cash and branch data are included and collected and linked in an omni-channel database. When it comes to the minubo Store Monitor, this means that the store employees can get access to existing eCommerce data, in addition to the store data, and thus be able to use synergies between the online and offline business. 

In the omni-channel era, data is the key to success – with the minubo Store Monitor, a cross-company data-driven decision-making work culture can become a reality. All employees of a commerce organization – from the company management, departmental management, IT, Controlling, Marketing, to CRM and category management, to the employees at the point of sale – work jointly and in a data-driven way on the success of the organization.


 

You want to learn more about the minubo Store Monitor? Take your chance and contact us today to schedule an appointment for a free Discovery Call!

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