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Understanding the benefits of Lightspeed Analytics

Lightspeed Analytics is faster and easier to use than ever before. Merchants have more flexibility and greater visibility of their Retail POS data, and reporting is simplified. These are just a few of the benefits of Analytics:

Navigation and layout

At login, you'll automatically arrive at the dashboard, where all Analytics features are accessible from one place. Along the left side are icons for your account, the dashboard (highlighted), reports, and admin options.

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Menu

Along the left side are icons for your account, the dashboard, reports, and admin options.

Menu icons, with the dashboard highlighted:

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Glossary

At the right of the dashboard is a collapsible glossary of terms, describing report types:

glossary.png

Locations drop-down

Another feature is the Locations drop-down, which gives you the choice as to which store locations you want to include in the data on that page, by clicking the Locations dropdown menu:

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Dashboard sections

Along the top of the page are sections for Overview, Sales, Inventory, Employees, and Customers. Click on any of the section titles to access a snapshot of how your business is doing in each area:

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Overview

The Overview section provides the following details:

  • Daily/weekly sales vs goals
  • Low stock, recently out of stock, dusty stock, returning customers this month, new customers this month, and capture rate
  • KPIs: transactions per day, GMROI, average sale size, turns, and basket size information
  • Sales: weekly sales by category and top products and upsell opportunities
  • Inventory: inventory on hand and sell-through
  • Employees: employee performance this month and employee sales
  • Customers: average days between sales for top customers

Sales

The Sales section provides the following details:

  • Sales year over year: sales performance compared to previous years
  • Weekly category sales (3 mo.): a high-level snapshot of sales by top-level category over the past three months
  • Top products & upsell opportunities: the highest revenue-generating products and the most valuable upsell opportunities related to those products
  • Weekly sales by shop (this year): a high-level snapshot of sales by shop over the past year
  • Category margin (3 mo.): looking at all sales within a top-level category over a 3-month time frame, and dividing the profits into the sale totals
  • Average purchase trend: sales totals per time frame, divided by the count of sales for that time frame
  • Transactions/day trend: count of sales totals per time frame, divided by the count of days for that time frame
  • Basket size trend: average number of sale lines per basket compared to the past 365 days
  • Margin trend: looking at sales of all products across various time frames, and dividing the profits into the sale totals

Inventory

The Inventory section provides the following details:

  • Recently out of stock: items that are selling, but have recently gone out of stock
  • Inventory level: a snapshot of the cost of inventoried items (assets and liabilities) you're following; you can choose what items to follow in your configuration settings
  • Dusty stock: the age of your inventory with a focus on old, low-selling stock
  • Low stock: items that have been selling well, but are low in stock, and should be reordered
  • Turns: how often you turned over your inventory last year
  • GMROI: how much profit you made on each dollar you invested in inventory
  • Sell through: a percentage measure of how well the stock you've ordered is selling
  • Top 5: vendor category: an assessment of your top five vendors by inventory category
  • Inventory on hand: a cost overview of your on-hand items that have alerts enabled
  • Inventory on order: all items currently on a purchase order with the status ordered or checked in
  • Uncategorized inventory: a list of items with no assigned category, so you can quickly assign and correct them

Employees

The Employees section provides the following details:

  • Capture rate past 30 days: sales with identified customers compared to all sales for the past 30 days
  • Employee sales: employee sales performance broken down by sales line
  • Employee performance this month: employee performance metrics, broken down by sales line

Customers

The Customers section provides the following details:

  • Average customer lifetime value (CLV): the average total sales of repeat customers
  • Active repeat customers: your most engaged repeat customers
  • At-risk repeat customers: your least engaged customers
  • Average days between sales for top customers: the average number of days between sales for your customers
  • Repeat customers/day trend: the daily trend for repeat customers across various time frames
  • New customers/day trend: the daily trend for first-time customers across various time frames
  • Next month birthdays: a table listing birthdates of your customers

Drilling into the details

Each of the sections provides visualizations of how your business is doing. Each visualization contains a menu in the top-right corner to explore more data, download data, and clear cache and refresh the data. You also have the option to download the information in various formats. Many of the visualizations are drillable, so you can click on the insight you want to dive into. Just click on an area of the visualization for available information and options.

Example of a weekly sales visualization:

visualization.png

Simplified reporting

Custom reports are now simpler to use. You can start by first selecting the Reports icon in the dashboard menu on the left. Next, choose a base report in the drop-down menu. Each report type has a description, so you can be sure to choose the correct type:

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Alternately, you can choose a report from the All reports list, below the Favorite reports section, which also contains descriptions. At any point in time, you can click the star icon beside a report name to save it as a favorite for easy access later on. 

Here's an example of how the Employee performance reporting section appears, including two favorite reports:

all_reports.png

All these new features of Analytics are sure to help you with all your reporting needs. Any time you require more information on how things work, you can visit our Help Center to review Analytics documentation, check out the Analytics reports documentation for full report descriptions, and we have a Lightspeed Retail Video Help Center, too. As well, our Support team is always available to assist you if you have further questions.

 

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