Retailers use a variety of tools to measure labor model output. But no single technique provides a complete perspective of customer experience success.
Leveraging data generated through daily sales and operational metrics, retailers can use standard and advanced analytical techniques to measure the health of operations as well as the company’s success at meeting customer expectations each day. The main metrics used to measure success include:
- Sales and transaction data
- Average retail item
- Items per basket
- Loyalty data
- Customer traffic
- Customer conversion
While this data is valuable, it does not always provide a perfect measure of success. Business leaders need to be aware of the limits of analytics and recognize that while metrics provide one source of business health data, they cannot provide a full perspective of the success of achieving the desired customer experience.