Analytics Overview

The Challenge

• You’ve got loads of data, but don’t know how to manage it.
• Data is spread all over the business, so different people have different perspectives.
• It takes hours of work to collate data from different sources to deliver weekly or monthly performance against KPIs.
• Analyzing spreadsheets is time-consuming and often leaves you none the wiser.
• You don’t know how you’re doing against the competition.

Key Benefits

• Save time by holding all your HR, scheduling, payroll, purchasing, stock and POS data in one place, as well as third-party data such as social media sentiment, customer reviews and mystery diner.
• Eliminate hours of work and remove human error by creating reports and dashboards automatically. No more weekly Excel reports.
• Make better decisions and increase profits with smart data filters that let you really get into the detail.
• Get the industry’s most accurate forecast, factoring in not just sales data from the last few weeks, but year-on-year trends, notable days, local events and weather.

Our Flash P&L function combines data from multiple areas to automate this and many other key reports.

Forecasting

The Problem
An accurate forecast is essential to the smooth running of any hospitality business. If you don’t know what you’re likely to sell, you can’t anticipate the staff and products you’ll need. But an accurate forecast comes from analyzing many different data sets, not just the patterns of the last few weeks.

Our Solution

Fourth’s data science team have examined over 17 million data points to build the most accurate forecast in the industry, proven to improve forecasting accuracy by 75% by independent data science firm aLook Analytics. 

The advanced algorithms and forecasting in Fourth Analytics don’t just look at recent numbers, but encompass a wide range of influences, such as weather forecasts, year-on-year trends, the same day last year, notable days, and national and local events. Local managers can then overlay their own knowledge, so when the forecast is complete you know exactly who you need where and when, and what inventory you’ll require. Not just to satisfy demand, but to take advantage of new sales opportunities.

Mobile

The Problem
Analytics data used to be heavy and clunky, could only be interpreted by accountants, and finding correlations between different data sets would take hours if not days. Very often the data remained exactly where it started, with any possible decisions or actions never making it past the accountants’ door.

Our Solution
Interactive graphs and charts on Fourth's management analytics dashboards are accessible on any device. The right people have access to the right information so they can act on it. And immediate action can make an immediate difference.

POS Integration

The Problem
Historically there has been a disconnect between easy-to-use business intelligence systems and POS. The intelligence that businesses needed stayed buried within each data set and manually collating data on staffing levels, product availability, recipes and sales took a huge amount of work.

Our Solution
Fourth Analytics integrates completely with POS data so you can get a complete understanding of what’s happening and where sales opportunities exist. Each keystroke is reflected in your sales data including every void, every upsell, every profitable and unprofitable timeslot and every discount. Smart charts put it all together to show you the impact of promotions and discounts, a better view of your customers’ buying habits, and trends and opportunities for improvements. You can even get alerted when key KPI thresholds are breached. Find out more.

Editor Permissions

The Problem
Creating dashboards that meet your unique needs can take a long time. Most hospitality businesses don’t have enough experienced analysts to custom-build them, and getting a third-party to create them can be costly.

Our Solution
Fourth’s ready-made dashboards can be easily configured to your needs out of the box. And if you do have experienced analysts and want to create your own custom reporting, Fourth Analytics has the tools to help you.