One of the most powerful features in APICBASE is the sales analytics module. It enables you to analyze your sales in-depth. You can generate a lot of very interesting insights about your profit and sales mix. Read all about it in this article.
- First, we cover how to get ready for using the sales analytics module.
- Then we show how you can filter the right data to analyze.
- Lastly, you will learn what data is shown in the module and how you can interpret it.
Getting ready to use the Sales Analytics
The sales analytics module needs sales data to operate. The best way to import the sales data is by linking your POS to APICBASE. Read all about linking your POS system in this article. If you don't use a POS system, you can register manual sales and use the sales module. Read this article to learn more about manual sales.
To go to the module, click on the "Sales Analytics" button in the "Analytics" module. Then select the outlet you want to analyze the sales off.
If your POS system is synced to APICBASE, the data will be already imported in your library. This happens every night. You can however, import the latest data by pushing the button "Import PoS Data" to import the latest sales data from your POS.
Filtering data in the Sales Analytics module
In the "Select Data" panel, you can filter the data you want to analyze. You can use the following filters.
- Period: select the beginning and end date of the period you want to analyze.
- Outlet(s): Select the outlet or outlets you want to analyze.
- Type of sales: Here you can select if you take into account the data of the manual and/or the POS System.
- Filter menus: Here you can filter on menus you created in APICBASE.
- Filter POS categories: here you can filter on every POS category you have created on your POS system. Only the items in this category will be shown in the analysis.
- Update button: click this button if you want to update the data in your results according to the filters you have set.
- Export button: Clicking this button generates an Excel export with the sales data according to the filters you have set.
Interpreting the results of the sales analysis
The Results panel shows the key indicators of all the sales according to the set filters.
- The number of products sold.
- Total revenue (including VAT).
- Total revenue (excluding VAT).
- Prime cost (and prime cost percentage of the total revenue).
- Profit (Revenue (Excl. VAT) - Prime cost).
- Profit margin.
Next, you see two graphs.
- The first graph shows the following indicators over the selected period. (Y-axis: indicator in the chosen currency, X-axis: dates of the selected period).
- Revenue (Excl. VAT)
- Revenue (Incl. VAT): This one is turned off, but you can add it to the graph by clicking on it in the legend of the graph.
- The second graph shows the percentage of the sales mix for every sales item and the average profit per sale. This graph is divided into four quadrants divided by a horizontal and a vertical line. The horizontal line shows the average % of the sales mix of all sales items. The vertical line indicates the average profit per sale for all sales.
- The upper left quadrant contains sales items that are not sold often but have a large average profit per sale.
- The upper right quadrant contains sales items that make up a relatively large part of the sales mix and have a high average profit.
- The lower right quadrant contains items that are not sold very often but have high average profit.
- The lower left quadrant consists of items that are not sold often and have a low average profit.
The details panel shows the most important sales data for every sales item. If your sales data is imported from your POS, you will see the Sales item name of your POS for every item in this table.
You can also make a copy, export to a CSV, Excel or PDF file or Print this table.
The first column of the Sales Data shows the Sales item. These are the names of the items you can find on your POS system. The next column shows the Apicbase Product you have linked to the Sales items in the "POS Connection" module. If a Sales item is not linked to a product in Apicbase, you will not see an entry in the "APIC Product" column. This is the case with the Coffee in this table. You will have to link the Sales items that have no APIC Product in the same row, otherwise, Apicbase will not know which ingredients to deplete if the item is sold. You can read up on linking your products in this article.
The Stella Artois, for example, had 126 sales in the selected period. It made up 18% of the total amount of items sold. The average price for Stella during this period was €2.5. The total revenue for this item in this period was €312.83, the prime cost was €66.78 and that made a profit of €246.05. This gives a profit margin of 79% and Stella was responsible for 7% of the total profit.
An important note on the sales numbers is that you get the average revenue. If the price of a Stella is €3, but you have a night where you sell beers 2+1 for free. You will not generate €3 revenue for every Stella that is taken out of stock. So the average revenue will be lower than €3. This will still be very interesting because you will know how much profit the Stella sales generate. If this profit is too low, you can look into the reason for it being too low.