The Power of Real-Time Sales Data
What is ‘Real-Time Sales Data’ and how can I leverage it for my business? An introduction.
Understanding fresh produce pricing has become essential to ensure your company is future-proof. Access to data empowers you to learn from and talk to your trading partners in order to create win-win scenarios for everyone.
Businesses with quality data are more likely to collect actionable sales insights, which can help them grow profitability in the long run.
So what is ‘Real-Time Sales Data’ exactly?
Real-time sales data is a collection of current and past data used by businesses to gain a deeper understanding of how and where the best profitability can be found. It also allows businesses to maintain and improve existing partnerships. Analysing this data allows companies to understand price trends and is a good predictor of what a successful bid/ask price should be.
When real-time sales data is reviewed properly, it should improve the effectiveness of how a company communicates to its partners, which is likely to change sales choices, and therefore increase profitability.
But collecting real-time sales data can be challenging, so here is what you need in order to collect and use those insights properly:
Good data quality
Data quality is vital to the collection of real-time sales insights. Without high-quality data, your conclusions or results might suffer.
Real transactions - real data … not self-reported or ‘guesstimates’
Not all sales data is created equally. The best sales data is based on actual transactions that can be tracked and traced. Your business will benefit leveraging real transactional data instead of depending solely on government reporting.
Growerstock provides real-time sales data
Obtaining real-time sales insights is hard work but it can pay off in the long run. If you have any more questions about getting started, email us at email@example.com
Find out how Growerstock can provide your business with real-time sales data and leverage tools that make buying and selling fresh produce more efficient (without changing the way your sales teams are doing business.)