Have you considered using the Sales Analytics tools from TimeForge? TimeForge developer, Gurkan, shares how recent updates to sales forecasting can help you keep labor costs in check. Learn how easy it is to monitor sales in weekly view.
What’s new with sales forecasting in TimeForge?
Customers using TimeForge Sales tools have more control over their labor cost than ever before. TimeForge sales options are located under the “Sales” tab. Sales Categories can be accessed on the Corporation level if the account has multiple locations. When adding a Sales Category, you can define your sales category type to pertain to “Currency”, “Inventory”, or “Other”.
These options allow you to analyze your sales in relation to:
- generated income
- items sold
- another standard of your choice
Also, you can coordinate the Sales Category to the Location level or Department level. Location-level coordination allows you to determine that your store generates sales of “X”-amount on a particular day. Department-level allows you to determine that your “Bar” department generates sales of “Y”, and even compare “Y” to the sales generated by your “Patio” department.
Precision look at sales data
Your sales data is stored and may be assessed in 15-minute increments. You can then generate your schedule using Actual Sales, Manager Sales Projections, and even TimeForge Sales Forecasts, which are calculated by TimeForge forecasting algorithms based on your historical sales numbers. You can view your sales Actuals, Projections, or Sales Forecasts by going to the Sales menu. Once you have selected which sales numbers you would like to view, you can select a Sales Category, and TimeForge will display your sales for that week in increments as brief as 15 minutes. If your sales type is operating on the Department level, then you select the department for which to view sales data.
Sales forecasting in weekly view
We have recently added new functionality that displays your department-level sales data per department for an entire day. TimeForge now offers two ways of viewing sales to serve different purposes. We named the original view, with incremental sales analysis, “Daily View”. Here the sales data is displayed in time durations of your choice. “Weekly View”, however, displays the sales data per day and for each department on a weekly calendar view.
Weekly View is so much easier for the user to see department sales on one page and with one click, as opposed to having to total the calculations made per day, as in Daily View. For this reason, I highly recommend checking out sales forecasting in weekly view.
Daily View allows the user to select a department to see the sales generated at a particular time. Daily View is designed to help managers determine the staffing needs at specific times throughout the day, while Weekly View gives management the advantage of quickly reviewing and comparing sales between the departments during the week. Combining these two distinct views with Sales Forecasting gives you power over your labor costs!
Authored by Gurkan Ozfidan