Big Data Done Right
As the image above illustrates so nicely, appearances can be deceiving. The further away you get from something, the greater the chance you’ll misinterpret what you think you see. From far away the outlook may seem positive, but do a little digging and you might find it is anything but.
The data housed in your POS is a perfect example. Sure it’s a huge depository of information with inherent meaning, but without the proper perspective and the proper context, its contents can be overwhelming without providing actionable insight. Worse yet, observers may mistakenly interpret what they think they see in this data stream, or more accurately, data flood.
The need to address this dilemma never has been more critical in the C-store space. Today’s marketplace—as this comprehensive article we posted on Tuesday frames so articulately—is beginning to understand that the reservoir of sales and other information in the register forms the heart of C-store “Big Data” that eager marketers are postulating as a miracle tonic for profitability.
But though the technology now exists to capture Big Data, without the proper tools its potential remains exactly that: potential—promise that is little more than an uncollated jumble of values.
Leading C-store operators are on the move, searching for solutions that can help them make sense of the information literally pouring out of their POS systems. The ability to drill down is only the beginning. Among their core requirements include:
- Control over the ability to slice, dice, and filter the data in the way most meaningful to their business.
- A coherent, understandable, hopefully graphical presentation of said data.
- Access to in-system analytics powerful enough to preclude the need to allocate resources for outside consultants.
- Fast response times.
- Up-to-the-minute readouts that promote proactive management.
- Device independence for busy, on-the-go decision-making personnel.
Technology providers serving the C-store industry are working diligently to provide software that addresses these needs—Big Data done right, so to speak. This week SSCS released a new product called, Transaction Analysis, driven by our customers’ desires to tap into the power of Big Data.
In an industry where margins are under constant pressure, the smallest operational details, if overlooked or undervalued, can mean the difference between success and abject failure. Big Data’s value occurs when it empowers the operator to uncover the little things, understand their significance, and strategize corrective action before it becomes too late to do so. Transaction Analysis was created to function as a catalyst for attaining this type of value. If you are interested, you can read more about the application here.