Transform Data into Insights and Actions
Actionable Insights is officially released in this version of LS Central. This is a business intelligence solution that collects large amount of data from various sources within LS Central, and then periodically runs them through an analytical calculation functionality so that it can present the essential business information to you with the Action Hub. The Action Hub provides insights into the patterns that are essential to your retail operation, and informs you proactively about exceptional situations so that you can take timely action.
Training material and product marketing material is not yet available at the time of release, but will be provided in the coming weeks.
Actionable Insights Base Pack
Actionable Insights comes with a KPI (Key Performance Indicator) hierarchy for you to define which KPIs should be monitored. The Actionable Insights Base Pack is provided free of charge, it consists of 48 KPIs for you to choose from, available in the themes of Budgets, Inventory, Replenishment, Forecast, Vendors, Purchases, Transfers, and Sales. Some of the KPIs offered are: Purchase Orders with Overdue Receipt Date and Current Out-of-Stock Situations.
If you are an LS Retail Partner, you can easily build your own business extension packs to provide KPIs for different verticals and industries.
KPI Calculation Workflow
There are various rules available for you to define when and how a KPI should be measured, and which team will be responsible for resolving the exceptions raised:
- Calculation Rules - You can set up the Calculation Rules to define when a KPI should be calculated, this will produce signals which hold the status of the KPI on a specific date. It is also possible to have the signals calculated based on a specific dimension only (for example, for a specific location).
- Alert Rules - You specify when a KPI value is outside the expected range with the Alert Rules. An alert will be raised, whenever a signal holds a value that exceeds the defined threshold.
- Notification Rules - Using the Notification Rules, you can define if a notification should be created for each alert raised, and to which user or user group the notifications should be assigned to. The notifications will appear in the Action Hub dashboard for the respective teams to work on.
Action Hub: Manage Information in One Central Place
The Action Hub dashboard consists of groups of cues and tiles that show the notifications that have been assigned to you or your group. From here, you can easily find information about the exceptions raised, work on them, and then resolve them. The dashboard also comes with various charts which give you a graphical overview of the alerts and notifications raised over time, as well as information such as how responsive are the teams in resolving the notifications.
The Action Hub is also available in Analytics, offering various KPI and report pages to help you gain an overview of your KPIs and your company's health.
For more information see Actionable Insights in the LS Central Help.