This article is brought to you by Taiga.
ALEXANDRIA, Va.—When a convenience retailer adds a new technology to its organization, it becomes more and more inundated with raw data. However, there is a solution that can cut through the data clutter and deliver actionable business insights so that all members of an organization—from the c-suite to the store manager—can be better equipped to make quick decisions that benefit the bottom line.
“Most c-stores have several different products in place at each store that are churning out raw data, but they struggle to integrate all the data into actionable insights,” said Bill Ivers, CRO, Taiga.
Taiga is a data insights company serving c-stores. Taiga’s cloud-based Front Office platform integrates with each system at a local store and transforms the raw data into actionable insights. The platform aggregates every transaction in real time, covering all areas of operations—from loyalty data and promotions to fuel deliveries and maintenance alerts—into a single, centralized data repository.
From the cloud, Taiga’s platform cleans and standardizes product and sales data to NACS category definitions. Dashboards with KPIs are then custom built for each department and role. These dashboards help decision-makers get the information they need, quickly and in context, to improve business results.
Ivers shares an example of how a store executive was stumped on why one location had extraordinary sales of a particular hot food item. The CFO saw high sales of a savory turnover at one store but not at other locations.
The CFO requested transaction data from IT to help explain the unusual sales pattern, but it took two weeks before she was able to analyze the raw data to get to the insight that would answer her question, according to Ivers. Turns out, the boost in sales came during the overnight hours when hungry college students would stop in for a snack. The store then acted on this insight by stocking more of these turnovers on the grill late in the evening and removing them in favor of better-selling items during the day. This small adjustment allowed the store to increase revenue during both the day and night.
“We work with our clients to implement our platform so questions like this can be answered quickly and time is spent taking action on these insights instead of performing data analysis,” said Ivers. “With our solutions, the CFO could have found out the reason almost immediately and implemented tactics to capitalize on the insight right away.”
Learn more about Taiga’s cloud-based platform.
This is the final installment of a two-part NACS Daily series on how convenience retailers can cut through the data clutter and create actionable insights. Learn more about Taiga by emailing info@taigadata.com or calling (888) 983-5874.