How do you use data in your business?

[dcon]

Hey everyone! I'm hoping to learn more about how food and beverage sellers are using data today. Would deeply appreciate any input from the community here.

1) What data tools are you using today? (either from square or third parties)

2) In an ideal world, how would you use data to guide business decisions or operations?

My goal here is to understand the real problems that sellers are dealing with today and then work to solve them.

Thanks so much for any thoughts!

Devin

[doc_choc]

@dcon we are digging in to the data daily sometimes hourly, sales comparison data, sell trough velocities, stock management reports. Data to help improve all aspects of our business. 

[Subport]

In my opinion, one of the best data to look at would be average order value. Of course other sources are important like lowering your CAC (customer acquisition cost) but you already have customers walking in everyday due to the marketing you've done in the past. Even increasing average order value by 10-15% can really increase your bottom line. 

After doing this, lower your CAC to compound your increase in margins.

Theres only a certain amount of things you can lower costs on and certain amount of things to do to increase revenue/profit. Focus on those first.