Why Do You Need BI Report When You Already Have A POS Report?

As more and more big companies invest in business intelligence (BI) facilities, you might be wondering why they are getting this service when they already have all the information in their POS report. Indeed, if you only have not more than 10 SKU in your shop, you can easily extract the information you need in seconds. However, as your shop expands, you might need hours to even reorganize them into your presentable report and easily understood information. That is the time when BI report would come into play. Well, let us take a look at how BI reports can fully utilize your POS data and give you a competitive edge against your competitors!

Why Do You Need BI Report When You Already Have a POS Report?

1. BI report tells you not only about the past status in which POS report also could tell, but also the insight to change and improve

2. POS reports are usually “passive”; while BI reports could be “active”

3. BI report tells you not only about the past status in which POS report also could tell, but also the insight to change and improve

Certainly, all in and out transactions to your stores are being stated clearly in your BI report. However, when you need to make certain strategic business decisions and you need the answer such as which of the product models or categories are more popular in which regions or states. You will need to spend a lot of your time to combine and reorganize your data to see a meaningful relationship between your sales data.

On the other hand, if you have a BI report, your data and your POS will automatically be presented in a way which helps you to see the underlying pattern of your data. For instance, information such as the individual and overall sales performance, inventory level and customer satisfaction level of different shops, at different regions or states can easily be seen in the reports. In addition, BI reports not only help you to reorganize your sales and inventory figures, but also transform your data into easy-to-understand visual aids like pie charts, line and bar graphs that only require a quick glance at your BI dashboard to obtain all the information you need.

1. POS reports are usually “passive”; while BI reports could be “active”

In the retail world where winning and losing sales would be determined in minutes and seconds, a POS report that requires you to extract and reorganize to know the exact information might not be as user friendly as BI report. With BI report that has a built-in smart alert system, it will automatically send you an email to tell you that a certain benchmark or threshold such as stock level, sales or promotion target has been hit. This means that you could instantly react to the situations and counteract with business decisions such as determining the golden timing to replenish your stock or adjust your following sales target based on the market reaction toward your marketing strategies.

All in all, this shows the benefits of BI reports for your store. Imagine the amount of time you would lose if you do not have a BI report. And, imagine how convenient it would be with the smart BI dashboard that could help you automate your data organization and how it provides you the competitive advantage against your competitor. Interested to know more about the presentation of BI reports on your shop’s dashboard? Fret not! Inquire now or check out our solutions to take an in-depth look at how you can reorganize your POS data into actionable insight now!