Pursuit software discussed the value of data for boosting profits.
The value of data for boosting profits was the focus of a recent business event attended by senior retail executives, the National Association of Goldsmiths and market research house GfK, staged by leading jewellery software provider, Pursuit.
Executives from Chisholm Hunter, Charles Fish, Paul Sheeran and other retailers attended presentations by Jonathan Hedges of GfK and the NAG’s Michael Donaldson.
These presentations complemented one-to-one demonstrations of Pursuit’s new quick-search sales and business performance analytics training module, launched earlier this year.
The course was designed to add further dimension to the power of the company’s widely used EPoS stock monitoring and management reporting systems.
Other demonstrations and one-to-one sessions included Pursuit’s wireless chip and pin enhancement and ways of speeding up the task of stocktaking, together with the efficiency of Lifestyle, the industry-leading iPad-based till and stock records tool for customer information and marketing data capture.
Attendance to the event was free, with retailers being presented with a free-single user Lifestyle software licence to either supplement an existing package or make the move to ‘mobile point of sale’ for the first time.
Managing director of Pursuit Software, Mike Burns, commented: “The use of sales data and systematic analysis of stock movement and brand performance is par for the course in larger jewellers. However, such facilities tend to be under-utilised by independents.
“As the saying goes, ‘you are only as good as your information’. Our new analytics module is a progressive evolution of the system’s established management reports suite. Its key strongpoint is fast, simple access to succinct information – without the need for a computer geek or giving the job to an accountancy firm or management consultancy for example.
“Spotting trends that can be exploited in marketing campaigns, window display and online prominence is only the beginning. The deeper value is in helping reaching well-informed buying decisions focused on sure sellers – and avoiding tying up capital in slow moving stock.”