In his recent guest blog post, Revel’s Chief Strategy Officer Chris Lybeer hones in on the importance of data when it comes to making actionable decisions for your business. In case you missed his last blog post, Chris shared what he loves about cloud-native technology, and how certain point of sale platform features help operators control their destinies.
The Importance of Easy-to-Digest Data
If you’re a restaurant or retail store operator, I’m sure you’re busier than ever, more than likely stuck in the weeds dealing with day-to-day challenges across your sites. It would be natural to be so exhausted that you don’t have time to look at the data from your business. However, there is gold in your data—that could save you time and money—and for that reason it’s more important than ever to prioritize this activity! In order to control the destiny of your business, investing in robust reporting tools has to be a priority, especially with multi-location management in mind.
I’ve been teasing how focused Revel’s product development team has been lately on enhancing reporting and analytics capabilities for our clients. Why? Because access to real-time, actionable data is a game-changer when it comes to monitoring sales performance, product performance, employee productivity, operation optimization, marketing performance, and so much more.
Modern business philosopher Peter Drucker says it perfectly: You have to be able to measure something before you can improve it.
We’ve recently made some sweeping enhancements and additions to our suite of reporting products so that operators can do just that—measure, then improve. Read on to learn more.
Ring Dashboard to Rule Them All
For any Lord of the Rings enthusiasts out there, you’ll know the allure of The Ring at the center of the trilogy is its ability to control all others.
With Revel Data Connector, our brand new solution for interconnected business intelligence (BI) tools with key data from your POS, the same concept is at play. This solution allows you to blend data across multiple sources for a singular, clear look at how your business is performing on multiple fronts.
Especially as off-premises dining keeps its momentum, BI insights like referral sources for your website and online ordering traffic, as that translates to your inventory management and kitchen staffing decisions for peak business hours, is incredibly valuable insight.
That information gives you the ultimate power to plan for an exceptional guest experience, even if your customers never set foot in your physical store for a purchase. And it’s only one example of this solution in action.
Another major benefit of Revel Data Connector is the ability to build custom reports at scale using BI tools. You will also have greater flexibility to analyze data needed to make critical business decisions and source solutions for descriptive and diagnostic analytics problems. A recent blog post from our teamdemonstrates many of the critical decisions you can make with access to tools like this.
Powerful Reporting for Long-Term Business Decisions
In order to harness the power of your point of sale (POS) data, you have to improve, and sometimes accelerate, your decision making processes.
Core Reporting XT is Revel’s newest enterprise analytics solution for data visualization. With Core Reporting XT, data isn’t just presented visually; it’s also interactive, allowing you to click through to the division and group level.
Dashboards available through Core Reporting XT help you make long-term decisions, track key performance metrics at scale and discover new revenue potentials using the management console.
You can dive even deeper into the full suite of capabilities in our knowledge base article. Currently available to Revel enterprise clients, simply contact your account manager to request access to Core Reporting XT today. In the not too distant future, this capability will be available to all Revel clients.
Knowledge is Power
My hope is that after reading this blog post, you feel inspired to dig a little deeper into the data you have at your fingertips. Regardless of what platform you’re using today, I encourage you to lean into the data aggregators at your disposal and make small, incremental changes based on the results you’re seeing. Knowledge is power and it can make all the difference for your business, and hopefully save you some time as well!
Our team is available to answer any questions you may have—request a free demo today and we’d be happy to dive deeper into our reporting suite with you.