Metrics are used to represent any numerical value, such as Sales, Inventory, Purchase Order or Unit Cost. There are 2 key concepts around using metrics: Actualization and Planning.
Actualization refers to the value assigned to a metric when a time period elapses. In other words, when say the 1st week of the year is finished, the metrics for that period are actualized. Gross Sales Retail metric gets its own value, and so on. Each metric that is not a formula (i.e. that is not a derived metric), is actualized based on the data feeds that are provided to Toolio.
Planning refers to setting a target, or anticipated value for a metric. Typically planning is only allowed for metric values in the future.
Toolio comes out of the box with most retail metrics that you would need. See Toolio's Metrics Glossary for a list of all metrics that come out of the box.
Raw Metrics are values that actualize, based on the data feeds provided to Toolio. For example, Gross Sales Units is a raw metrics, since Toolio gets this value from the Sale feed provided to Toolio.
Derived Metrics are values that are calculated as a formula of Raw Metrics. An example of a Derived Metric is Gross Sales AUC, since it is derived from a formula, which is
Gross Sales Cost / Gross Sales Units.
Given a metric like, Gross Sales Retail, you might want to look at that metric in various ways. You might want to look at:
- Actual Value from Last Year
- Actual Value as % of Total
- % Variation of Plan to Actual from Last Year
Each of the examples above would be different variants for the same metric.
Toolio comes out of the box with most retail metrics that you would need. See Toolio's Variants Glossary for a list of all metrics that come out of the box.
Custom Metrics & Variants
If you see a metric that you need, but is not supported out of the box, fear not! Just let us know, and we'll add support for that metric.
Also, all the metrics within Toolio are fully customizable. That means that the name of the metric and and its formula can easily be customized.
If you want to add new metrics or customize an existing metric, reach out to our Customer Success team here.