Reports: Why It’s Essential for Your Business
How do you know what’s working at your FEC? And what’s not working?
Many business leaders often rely on intuition when making key decisions, but data-savvy managers know that they can dramatically increase their chances of success when they incorporate insightful data from their reports into the decision-making process.
Of course it’s easy to become overwhelmed by the volume of information available, but you can be successful by focusing on what’s important. The bits and bytes that help you get to know your customers, spot trends, identify what’s working and what’s not, can have a significant impact on your business.
Your data has the answers to all your business questions, smart decisions just depend on how well you can interpret that information!
What is ‘REPORTS’?
Embed REPORTS is a collection of all the transaction data in your FEC from your Embed Card System. There are 7 different REPORTS categories – Cards, Stock, Games, Staff, Sale, Bookings, and Interface Transactions. Each category has a collection of different reports related that provide insight deep into your system.
Why are they so important?
REPORTS not only help consolidate Revenue and Income for your facility, but they also provide a detailed look into the consumption of your products in the facility by customers.
You can view each game transaction from an overall view all the way down to individual card swipes at the reader. With this information, we can pinpoint the best options for your facility to help grow your business.
With REPORTS you can track your redemption inventory and create a redemption counter full of the prizes your customers want the most.
They allow you to navigate loyalty and VIP programs to increase sales and revenue.
Here are a few EMBED Reports you should be looking at regularly.
The Essentials: Top Reports every FEC operator needs:
#1 – Location Sales and Taxes Summary – The overall report!
This report is the main financial report within your TOOLKIT system. It provides operators with all of the actual sales, receipt summary and tax information they need for their day-to‐day operations.
#2 – Game Activity
Monitoring game activity as well as ticket payout of each arcade game. It shows the number of plays, value of play, percentage of total, e-tickets issued, average e-tickets per game and e-tickets payout. This is a great tool to identify best and low earning games, and maintain a fair payout.
#3 – Stock Movement
This report is used to give an overview of the activity of individual items and track the redemption prizes trends and consumption.
#4 – Six Week Game Trend
It displays a trend of weekly game play activity for a six week period.
You can evaluate the popularity of arcade games and also use this report to rearrange the game room floor.
3 Great Reports you might not know about:
#1 – Card Statistics
A really great pulse check on Game Card trends, average per cards, and facility float.
This report is used to understand the guests and the details and balances on their cards. It is a good way to monitor the number of registered cards and to understand the degree of risk that the amount of outstanding balance indicates. The average number of E-Tickets and unused credit balances on customer cards gives some indication of how guest behavior changes depending on card type. It also gives an indication of the popularity of any loyalty programs attached to card levels as higher spends on low-level card types and lower spends on high-level card types indicates that customers are not responding as favorably as desired to the current loyalty program.
#2 – Card Holder Details
This report is best used for marketing purposes, especially for promotions related to spend levels, the geographical location of customers or birth dates. Information can be sorted and filtered in a number of ways and can be exported automatically to a .csv file for ease of use. This report is especially useful for direct marketing campaigns where customer e-mail and postal addresses are needed.
#3 – Stock Value
Maintain the levels of your redemption prize investment. The more product you have on hand, the less you’ll need to order month to month. This can also help with maintaining par levels.
The Stock Value report shows the current stock levels for the specified location. This report is used to give the viewer a picture of the current stock quantities for all stock items in particular categories and the value of stock being held in a location. This is very useful for locations that operate by maintaining a specific amount of stock, and this report allows them to manage the value of stock they are holding on a daily basis.
Every site should run a variety of Embed Reports. If you’re just reviewing how the location is performing and you find that you’ve stumbled on a new report, or it’s a report you’ve never run before – go ahead and run it for daily, weekly, and monthly. You may find that you can view your facility data in a new way, or a piece of information about your facility that you haven’t been exposed to.
We hope you find these article useful! If you have any questions or want to learn how to run any of your REPORTS, please go to INSIGHT, your on-demand learning center for everything Embed, and talk to our support team for more information.