The ANZ Bank has released a new online business planning tool that uses data from merchant EFTPOS transactions to identify sector or local sales patterns, market share, turnover to provide insights into customer behaviour in local and regional areas. The aggregated information can be used to analyse changes in sales and market share and understand local industry business trends.
ANZ Business Insights has been launched as a pilot for ANZ small businesses customers in Victoria with a national roll-out planned in the coming months.
Customers must register to use ANZ Business Insights. Registered users can view broad comparative benchmark data for similar businesses in their local area across common industry categories including food, clothing, consumer goods, travel and hairdressing. It is free to registered users.
ANZ General Manager for Small Business, Nick Reade, said: “Getting meaningful local data is a challenge for small business owners. Short of sitting in a competitor’s shop and watching passing trade there are limited resources small businesses can use to benchmark performance. We expect ANZ Business Insights will be an invaluable tool for ANZ Small Business customers.”
He said that “The tool takes a lot of guesswork out of business planning and helps small businesses save time and resources usually spent on local market research. This is information money can’t buy and it is free.”
Other ANZ Online education materials such as start-up business courses, tools to help build the skills and knowledge of business owners, webinars on key topics such as marketing and cash flow planning, and business templates are available through the ANZ Small Business Hub. To register go to www.thesbhub.com.au