Sales Forecasting

Sales Forecasting helps you make smart, profitable decisions. A sales forecast helps you plan your work schedule and inventory efficiently, making sure your restaurant can meet customer demand.

How it works

Sales Forecasting is an integrated POS technology that lets you estimate weekly sales for your business based on historical averages. A Sales Forecast estimates how much sales you can expect on a given week, say, on Monday your sales will be $1000. You can edit this forecast to account for factors that might affect your expected sales, for instance bad weather, road work outside you restaurant, a Monday-only 20% off coupon etc. Once you take into account all these factors, then you get realistic and reliable sales forecasts.

Results

Sales forecast is a recipe for profit. It combines historical sales data with qualitative information, like the weather and promo offers to help you create accurate work schedules and inventory plans that can meet restaurant traffic.

Key Features


Forecast Sales with Past Sales Data

Your POS automatically generates a weekly sales forecast based on historical sales data. You can select on how many past weeks to base your forecast on. If you prefer, you can manually choose the dates you want to model your forecast after. For instance if you're creating a work schedule for Halloween, which is on a Monday, it makes more sense to model it after sales data from last year's Halloween than to last Monday's sales.

Forecast Customization

Sales Forecasting lets you leverage your POS data in the most profit-driven way. Sales forecast can be as generic or as in-depth as you want. Indicatively, you can generate a forecast for dine-in lunch sales of your Chicken Stromboli to better plan its production. Evidently, sales data allow you to (a) create cost-efficient work schedules, (b) optimize inventory management and purchase and (c) prevent under/over food production.

Event-Specific Forecast Changes

Your Sales Forecast is customizable. You can adjust it based on weather (Sales Forecast features a built-in weather forecast) and other day-specific conditions. For instance, a Super Bowl Sunday is like no other Sunday in terms of foot traffic and delivery orders. The changes to your forecast can be really specific i.e., you can increase Saturday's lunch sales for beer by 15% on a hot day.

Forecast Granularity

No two days are the same in the restaurant business. With Sales Forecasting you can get detailed quarter-hour sales forecasts. Are you selling more appetizers between 5:30 p.m. and 6:00 p.m.? Which is your most popular pizza between 9 p.m. and 10 p.m.? Looking at average sales by 60, 30, 20, and 15 minutes lets you optimize your work schedule and food preparation.

Sales Trends

Sales Forecasting tracks historical sales data of the last five years to help you make data-driven decisions. You can analyse the sales trend of new products, see how discounts affect sales, and leverage the data for even more accurate staffing and inventory. The sales trends are presented both in dollars and quantities sold and are represented in bars and charts for easier processing.

On Target Staffing Levels

Sales Forecast is a reliable tool for creating realistic work schedules. Knowing that your delivery service consistently peaks between 6.30 p.m. and 9 p.m. ensures you put on clock enough drivers to keep deliveries timely and your customers happy. Sales forecast and labor scheduling are integrated so once you generate a sales forecast, you get schedule suggestions based on these forecasts.

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