Retail Stores include a huge amount of items to offer for sales and to request for the orders. Their performance demands qualitative workflows tracking and implementing instruments aimed at increasing sales and the number of orders.
To audit the current situation, avoid the shortages and suggest solutions, store performance dashboards track retail metrics providing overview of sales.
Store Performance Dashboard
What is a Store Performance Dashboard?
Its advantages are your assurance in sales increasing, strategic goals following and reports forecasting nevertheless the geographic locations, weather, social media hype etc.
The dashboard owners can avoid hard times with out-of-stock products and supplies and overstock for managers to manage the workflows wisely. Retail store performance dashboard monitors top-selling items and forecasts the vital stock inventory data.
Track all the KPIs and stocks, items for orders placed and get detailed store-wise revenue analysis. Adopt the best possibilities of decisions concerning future investments, store plans, higher profit categories despite less sales volume.
The metrics in Store performance dashboard may include:
- Total sales
- CoGS = cost of goods purchased from supplier + direct costs // Cost of retailer net purchases, including any shipping + reduction in inventory OR minus increase in inventory
- Gross profit = Sales profit – cost of goods sold (works, services)
- Marginal profit = Revenue - Variable Costs
- Basket metrics average basket size (ABS), average basket value (ABV), and average unit in retail (ABR)
- Average inventory value by product category
- Net profit = Revenue - Cost of goods - Management and selling expenses - other expenses - taxes
- Average inventory value by product category
- Profitability of sales - Gross Profit - Selling Expenses - Management Expenses
- Net sales for a selected period and selected stores
- Visitors and buyers count in different stores
- Sales metrics like AUR, sales per sq. ft.
- Purchase order trackingbased on expected date
- Profit margin details by product category and by store
- Inventory turnover ratio
- Gross margin ROI
- Stock availability of each item
All the insights from this Power BI solution are crucial for the decision-makers. Basket metrics tracking provides the improvements due to up-selling and cross-selling, and adds insights concerning the pricing strategy.
Net sales is vital for assessing the performance of a store and its financial health.
We develop interactive dashboards and consolidate data from any IT system into comprehensible dashboards provisions for 24/7 access to the data from any device.
GET YOUR FREE STORE PERFOrMANCE DASHBOARD WIREFRAME
Get your free Store Performance Dashboard Wireframe to track sales, foot traffic, and KPIs at a glance.
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What does the Store performance dashboard show and what is it for?
The purpose of the retail store performance dashboard is to visualize the most relevant information in metrics to keep track of sales happening and how business achieves its strategic goals. To choose the most effective KPIs for marketing reports the heads and personnel have to study their effectiveness and sieve the most vital.
This instrument is aimed at increasing sales and the number of orders. It audits the current situation, and suggests solutions. Managers can see the better product category, profit, net sales, the proportion of buyers over visitors and other vital metrics for each branch, product, manager, etc.
It gives you a concise view of results-based reports which can reflect metrics by periods, in the regions, branches, KPIs, sales growth, and so on. Main dimensions could be:
- dynamics
- organizations
- of vendors / clients
- lines of business
- stores
- product groups
- order status
- services
- managers
General types of analyzes are not just the fact, but comparison of fact and last year, fact and plan, fact and last month, fact and deviations.
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What are the target roles and dashboard users?
Generally all the key persons of the company need to track and provide financial control of business workflow. Store performance dashboard target roles and users positions in the organization are:
- CFO
- CEO
- CMO
- COO
- CBDO
- financiers
- managers
- head of sales
- board members
Other types of store performance dashboard:
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STORE PERFOMANCE DASHBOARD VARIATIONS
Our Power BI consultants will develop tailor made dashboards that will help effectively control sales
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- Power BI and data technology experts implementing turn-key data solutions
- Delivering customized dashboards crafted for your organization's needs
- 20-30% less expensive than hiring a local FTE.
- You might also be interested how to improve overall performance in manufacturing industry
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