What is a good retail dashboard?

Until recently, the notion of “dashboard efficiency” was basically summarized to the notion that it should bring the 3 to 5 key indicators in any given business. Dashboard’s ERP essence makes that it didn’t have to be either intuitive or smart, but only to be consistent, not to cheat with the figures and to respect a certain scale. As a result most dashboards were and still are counter-intuitive and almost not flexible.

For instance, most retailers will try to isolate a few parameters like supply stocks, sales, margin, marketing investment along with a few other significant parameters to them. So far it seems ok… and actually, most corporations have been able to isolate what they felt were their “key” factors. But the fast increasing number of distribution channels and marketing funnels have made all this obsolete.

Today, in an ever faster evolving market with one deal a day for all kinds of products, most marketing directors would agree that 3 key criteria must be taken into account:

  • responsiveness
  • prince sensitivity
  • location

These indicators are imbricating into each other, and in itself it is quite difficult to track the data feeds that indicate that consumers are sensitive to a promotion campaign for instance.

For example, one may find out that a special offers in stores are not as successful in an area compared to one other. Parameter such as the wealth, traffic conditions, weather are key to better define a ROI. And most of the time such parameters are not taken into account.

It is interesting to see that most marketing directors would agree that the promotion efficiency is NOT a black box that is impossible to break, but at the same time they also agree that they would need some additional tools to track more parameters, in almost real time, at a very granular level.

This is why in addition to these 3 features (responsiveness price sensitivity, location), a good dashboard must also be able to feature marketers with (i) a access to any type of exogenous factors, (ii) a non expert/ intuitive interface (iii) some easy collaborative features. Marketing of today is a lot about intuition, reaction as well as participation. At a time whereas the business model of the Hypermarket is getting very much challenged, such practice may be capable of revamping their businesses…

Captain Dash is ready to take up the Dashboard challenge