Retailers or companies whose business structure is based on a retail concept, can make better decisions, reduce costs and increase profitability by using BrightAnalytics. The BrightAnalytics platform is particularly useful for mapping indirect costs such as overhead or accommodation costs per branch, business unit, region, etc. as well as their impact on the company’s profitability.
Let’s take the example of a retail chain with branches in different locations and different rents that increase annually. The cost of utilities depends on the number of square meters, as well as the location. If management and branch managers do not adjust their activities according to shifts in overhead and occupancy costs, these movements can have a major impact on bottom-line results.
A dashboard allows management to quickly see at a glance in what way overhead costs, housing costs, personnel costs, and other costs evolve in function of the turnover, and how they influence the profit. Access to real-time data is crucial for decision-makers to immediately see the cause and effect of decisions made in a rapidly changing economic landscape.
Dashboards allow you to keep budgets under control. Thanks to various “what-if”-scenarios, the actual figures can be compared to the budgets, and one gets a quick and clear insight in deviations from the budgeted projections.
A dashboard helps to detect trends in costs and/or revenues in branches, regions, departments, etc. Through extensive drill-down capabilities, dashboards allow you to uncover the causes of profitability loss, and provide insight into the most detailed data.
Until now, it was often customary for the reporting of figures and KPIs to be sent from the head office to the various branches on a weekly or monthly basis.
There is a clear uptake in “self-service” reporting through which managers and employees can directly access dashboards and reporting systems to track their performance. Shifting this responsibility and making the numbers transparent leads to greater employee engagement and promotes their individual performance.
Interactive dashboards with built-in “what-if” functionality allow you to test different scenarios and show the impact on the result. These “what-if”-scenarios allow to quickly substantiate certain decisions.
BrightAnalytics centralizes all your financial and operational data. The powerful and clear dashboards provide instant insight into the state of your business and put your operational data in context. Compare performances, build as many top 10’s as you like, or spot risks and anticipate trends in time.
BrightAnalytics offers a 360° overview of your organisation and allows you to make efficient, well-founded strategic decisions.