Small to medium-sized alcohol beverage companies generally use affordable, easy-to-manage financial solutions like QuickBooks to handle financial, inventory, and invoicing needs. They’re easy to use, have minimal data requirements, and handle basic reporting needs.
On the plus side, having a limited number of required data fields makes adding new products quick and easy – but on the minus side, being limited to a single field to hold brand name, item name, vintage, and pack size makes it very difficult to use this product data in any other way. Trend analysis, historical reporting, marketing on consumer-facing websites, and inventory reconciliation are much more difficult when your data is so condensed.
Added facets are important for sales analysis
Adding data facets to product data allows for deeper analysis by characteristics such as item type, ingredients, and geography. This information allows for a more nuanced understanding of sales performance and portfolio health. Important industry metrics surrounding sales performance, brand health, and pricing strategy require these data facets. We’ll explore this in-depth in a future post.
TippleTech can add these and other data facets to product data to the desired depth of detail.
Limitations on data input prevent use outside of financial solutions
Entering a single line of data for a product and its pack configuration is simple, but in order to use this data for e-commerce websites, marketing, and other applications, an extra step is needed to transform it into an enriched form.
TippleTech offers customizable data transformations that turn financial and inventory product data into consumer-ready information.