Recommended Analytics Software Providers

It’s no secret that data-driven companies perform best. And in today’s world of ubiquitous business tech, it’s never been easier to collect that data.

The best analytics software will capture data from all areas of your business, and simplify it into simple graphs and charts with actionable insights.

With so many options available for analytics software, it’s important to do your due diligence as a buyer and think carefully about your decision.

Comparing the Best Analytics Software Products

We tested a range of analytics and tracking tools in an effort to find out which software yields the best results.

Our research found five market leaders — Tenzo, Avero, Apicbase, Wisk, and Restock — that we individually profile below.

Check out their basic functionalities at a glance in the comparison table, and then continue for an in-depth review of each analytics tool.

 

Tenzo

Tenzo is a powerful reporting tool that gathers and analyses data from across your business for full transparency on your performance. Bringing together sales, staff, and stock, the software delivers holistic insights into your operations that can be used to refine your strategy.

Key Selling Points

Here are two of Tenzo’s best qualities:

1.    Versatility

With an integration network of more than 50 software providers, Tenzo is well-equipped for analytics. And it’s not just the sheer number of integrations available, it’s the variety. Sales, inventory, scheduling, and even online review tools all connect with Tenzo.

Once the data from these systems has been imported into Tenzo, the software will keep real-time records of your business performance. The various reports can be collated and compared for thorough data analysis and optimal results.

2.    AI forecasting

Tenzo’s machine learning forecasting tool maps out your sales timeline up to 21 days in advance. The algorithm uses historical sales data as well as local weather, holidays, and custom events to predict demand with utmost precision.

Smart forecasting is key to cutting down your operational costs. With a three-week forecast always at hand, you’ll be able to make the most informed decisions about your staffing and stock needs.

 

Avero

Trusted by more than 50,000 hospitality businesses worldwide, Avero helps restaurants, hotels and casinos improve their decision-making with on-demand analytics. Using detailed reporting, Avero allows you to drill down into a variety of business areas and improve overall operations.

Key Selling Points

Let’s take a look at two of Avero’s biggest selling points:

1.    Internal Communications

Many analytics tools lack a mechanism for quickly sharing data with other members of the team. That’s where Avero’s Logbook feature comes in. Logbook is a central dashboard that houses all the key insights from across your business for quick and easy analysis.

The feature can be used to view yesterday’s sales, document operational issues and set up tasks for the day ahead. It’s a handy tool for ensuring everyone stays on the same page and remains accountable for their actions as a team member.

2.    Promotions reporting

Along with tracking your sales, inventory and employees, Avero will also analyse the success of your marketing campaigns. For each promotion set up by your business, the software will capture its performance across a number of metrics like redemptions and sales per hour.

You can then bring individual promotional reports together to gauge what kinds of promotions generate the most profit for your company. Promotions reporting can be hard to find, and helps elevate Avero above many of its competitors.

 

Apicbase

Apicbase is an all-in-one hospitality management platform for restaurants, hotels and cafes. With dedicated features for menu management, inventory tracking, accounting and more, the software truly covers all bases. Its analytical tool also ranks among the best on the market.

Key Selling Points

Apicbase adds value to hospitality businesses. Here are two of the software’s key selling points:

1.    User experience

Apicbase has a simple, clean user interface that’s incredibly easy to navigate. Each tab is clearly signposted, with key information presented in a neat and orderly format. Filter tools help you find exactly what you’re looking for in seconds.

The platform has a shallow learning curve and only takes a few days to master. This is good news for large teams, who won’t have to set aside vast amounts of time and labour for training purposes.

2.    Menu management

As a tool designed specifically for restaurants, it’s no surprise Apicbase has some excellent menu management tools. An end-to-end service, the software will assist you with the initial procurement of ingredients all the way through to the marketing of your meals.

Some of the best features in the food department include supplier management, recipe building, cost forecasting and the ability to attach QR codes to your menu so that customers can browse the allergen information for particular items.

 

Wisk

Wisk is another powerful restaurant management platform with a focus on reporting and forecasting. Advanced tools for inventory tracking and analytics make this software a standout for any data-driven hospitality business.

Key Selling Points

Let’s look at two of Wisk’s biggest strengths:

1.    Inventory management

Wisk markets itself primarily as an inventory management tool and, naturally, it has some great features for stock control. A variety of charts and graphs help visualise key data relating to stock movements, food waste and deadstock.

These insights can be used to fine-tune your procurement process, ordering only the precise amount of ingredients needed to meet the demand of your customers. It’s a quick and easy win for boosting profit margins.

2.    Supplier management

In keeping with Wisk’s central focus on cost control, the software allows you to keep tabs on your purchase orders. These can be processed through the platform, and you can scan in invoices for expense management purposes.

If ingredient costs change on an invoice, these will be automatically flagged on your reports and you’ll have the option to change menu prices as a means of absorbing any additional expenditure.

 

Restock

As the name suggests, Restock is an inventory management platform that also features advanced forecasting tools. Stock controls, menu management, sales reporting and reorder automation make the software a strong contender for hospitality businesses.

Key Selling Points

Here are two of Restock’s best qualities:

1.    Supplier management

Drawing on sales and inventory data, Restock automatically calculates the quantities of required products for reordering from your suppliers. This ensures costs are kept to a minimum while you continue to meet customer demand.

You can even automate your purchase orders to trigger when your stock levels hit a certain threshold. Not only does this reduce food waste, but it also frees up time to focus your attention elsewhere.

2.    Inventory management

With Restock in your arsenal of business tools, real-time data on your inventory will always be at hand. The software’s easy-to-use smart calculator makes the stock-take process a breeze for your staff.

Precise information about your stock levels sheds light on the amount of money tied up in your inventory. Alongside dedicated tools for sales reporting and forecasting, this gives you clear data on the performance and profitability of your business.

How to Choose Which Analytics Software is Best for Your Business

There are a wealth of software options available for businesses looking to harness the power of data. To make the right call, you’ll need to think carefully about your specific business needs.

Here are some factors to keep in mind during the purchasing process:

• Pricing. The first step is to set a budget for monthly or yearly software subscription costs.
• Industry. During your research, you’ll notice that some analytics tools cater to specific industries like retail or hospitality. Ensure that your chosen provider meets the needs of your industry.
• Features. Not all analytics tools are made equal. While some will only have sales reporting features, others will allow you to capture data on other areas like stock, staff and supplies.
• User experience. An easy-to-use design is paramount for any analytics software, particularly when it will be used by several members of the team.
• Compatibility. Make sure your chosen analytics tool is compatible with your other business software, such as your POS system.

Use these factors as a starting point in your software search. The next step is to learn more about each product using reviews, demos and consultations to find the perfect match for your business.