We are in a fortunate position to be able to gather and analyse a considerable pool of retail business performance data thanks to the generosity of our Point of Sale software user community.
While most data is gathered for sharing back with the user community, from time to time we are called upon by industry associations and other interested parties to share high-level data, data which does not identify any of the individual businesses which share data with us. We do this willingly where we see that the data will be used to professionally and robustly represent the interest of small business independent retailers.
Over the many years which we have answered the call for retail business performance data the respect for the quality of the data we have access to has grown.
Not only is good business data important to each retail business, it is also useful to government and others who look at entire retail channels when making policy, supply and other decisions.
Indeed, data is probably the most valuable asset of a retail business next to cash. Good data helps any retailer harvest more cash.
Business data and our work with it is on our mind this weekend as we have just seen a copy of a submission to the federal government on behalf of a small business retail channel which makes use of business performance data which we provided. It is good to see our data gathering and benchmark work being put to such good use.