Understanding the Daily Targets Report
The Daily Targets report in Analytics is a built-in custom sales report that illustrates a few examples of daily targets for your store to consider. Three of the four targets are built on the monthly goals that you set in configuration. The fourth is a challenge based on your Sales history.
Note: for best use, use the visualization of the report. The data is, in most cases, not meaningful
The default goal is the daily portion to hit your Monthly goal.
For example, let's say your Monthly goal for July is $31,000. There are 31 days in July, so your daily default goal would be $1,000.
The daily default goal does not adjust for where you are in relation to your performance.
The Month-to-date difference is the dollar value you need to meet to be on track for your monthly goals.
Let's say. as part of the example above, that your target for July is $31,000, so that your daily default goal is $1,000.
That means, by the end of July 1st, you want your monthly sales to have totalled $1,000, by the end of July the 5th, you want your monthly sales to have totalled $5,000 and so on.
What if, however, by the end of July 21st, you are only at $19,000 for the month?
The Month to Date difference then illustrates how much you wish to generate in Sales to get back on track towards your monthly goals.
That means on July 22nd, we don't want to only hit $1000 in sales, we want to hit $3,000 to bring our monthly total to $22,000. Our MTD Difference would therefore be $3,000.
What if, however, we are ahead of where we aimed to be for the month? In this case, the MTD difference would be negative. (This does not mean you wish to generate negative sales. Rather, it simply illustrates that your sales model is succeeding!)
Similar to MTD Difference, Year-to-Date difference looks at the cumulative sales total you want to be at for the financial year, and calculates how far behind or ahead you are in relation to your monthly goals.
If the difference is positive, it means that this value is needed to get back on track to your yearly goal.
If the difference is negative, it means that you are achieving the goal you set, and succeeding even further.
Best Day Yet
The Best Day Yet number very simply returns the value of your highest sales day from this financial year, including the Month and Day of that particular day. You can use this as a challenge to your staff to see if you can outperform that value again!
Lightspeed Analytics and reporting consultant