Spreadsheets are useful, but there’s a better way to view your inventory and sales data – through data visualizations built into your inventory control business intelligence app. More than catching the eye with fancy graphics and bright colors, data visualizations make the analysis of your crucial inventory and sales data a much more engaging and intuitive process, helping employees who are not analysts make sense of key figures. Data visualization can help your small business grow. Here’s how.
Encourages a DIY approach to data analysis
Data visualizations enable you to view crucial data such as Profit, COGS, Profit Margins, Gross Sales, and Purchases in an intuitive format that combines figures, charts, and graphs to show at a glance both the big picture and specific details for given time frames. Unlike the wall of numbers that make up most spreadsheets, data visualizations provided by an inventory control business intelligence app are user-friendly, so that you can use them to understand your small business’ performance without having recourse to professional data analysis services. With data visualizations, you can check your key inventory and sales data whenever you want, and as often as you want.
Helps you focus on priorities
Another advantage of data visualizations is that it crunches big data into essential numbers on which you can base your inventory order purchasing decisions. When dealing with disorganized data or with large spreadsheets, it’s easy to miss the forest for the trees. Details are important when it comes to effective inventory control and management, but sometimes a quick comparison of profit margins from one month to the next, or a glance at gross sales over a period of time, can help you take better and faster business decisions. An advanced inventory control and planning solution can makes these easy to check through simple data visualizations that are insightful and immediate.
Brings patterns into the spotlight
When it comes to data analysis for inventory, sales, or marketing purposes, data visualizations can present numbers in a way that makes patterns easy to discern. Patterns are important because through them you can understand important trends such as best-performing sales channels, best customers, top-grossing sales staff, or most popular products and brands. While it is of course possible to identify trends without data visualization, this makes it so much easier, especially when you own or manage a small business and simply don’t have the time to pour over the pages of data you have.
A simple way to integrate data visualizations into your inventory management and sales forecasting processes is to use an inventory control business intelligence solution that comes with intuitive data visualization capabilities. DataQlick is an Intuit QuickBooks app for inventory that uses intuitive data visualizations to help you better understand your Profits, COGS, Profit Margins, or Gross Sales data so that you can make the right inventory decisions at the right time. Learn more about DataQlick’s in-depth yet highly accessible retail analytics.