Some of the terms we use in Quorso might be unfamiliar to you! Here is a list of definitions to help you out. Where a term appears in bold, it means it is listed elsewhere in the glossary.
Alert - an area where Quorso has identified a potential issue that you might need to investigate. This is data-driven, in other words, triggered by an event such as falling below target.
Business screen - This is what we call the Quorso KPI dashboard, located via the suitcase icon on your navigation sidebar.
Improvement opportunity - a product, sub-category or category where a store has room to improve by fixing an issue, thus positively impacting the business. Quorso makes individual calculations for every product to “level the playing field” when it compares one store to another. Using a sales example, it says, “if everyone else’s revenue on a particular product category was the same as this store’s revenue, how much X product would we expect it to sell to be in line with the average?”
Insights Explorer - The button on the workpane that lets you view very granular data for the improvement opportunity you are investigating. For example, if Quorso suggests your dog food sales are down, Insights Explorer breaks this down to show you the types or brands, day of week, and time of day where issues are occurring, so you can check replenishment, stock levels, presentation, etc for those items/times. To make things even easier for you, there is a colored heatmap that instantly tells you where to focus - the deepest reds are your trouble hotspots.
KPI - This stands for Key Performance Indicator. Your business’ KPIs will already be set up on your Business screen. You can click on each one to drill down into what is driving performance there.
Mission – a Task, Alert or prioritized Improvement opportunity that you should investigate in your store this week.
Mission Control – The activity board in Quorso where you manage your Missions. Missions will move through the columns as you take action on them. They are either incoming, in progress, completed or dismissed.
Mission Inbox – the column on your Mission Control where new missions appear
Live Missions – When you log an action plan on a mission, you can choose to keep it 'In-progress', where it will be saved in the 'In Progress' column on your Mission Control. Quorso will track and display the improvement made on these items.
To normalize – to adjust the performance of other stores so that they are comparable to yours, before calculating the difference between your performance and theirs. This levels the playing field and accounts for external factors that might impact performance (e.g., area demographic, weather, holidays, local competitors, etc.)
Opportunity value - The gap between a site’s current (actual) performance on a product, sub-category or category and either the target value or the normalized average of your peer group. So, it is how much you need to improve by in order to meet your target or your expected performance given what your peers are achieving.
Peer group – The group of stores your performance is compared to, which may differ for each different product, sub-category or category, depending on what factors may influence how they perform. As an example, this may be a sub-set of all stores that have a similar format, space allocation and/or distribution center as you.
Task - A (typically) routine assignment that you need to carry out, such as a quality check or inventory count. Using the pre-populated due dates, Quorso categorizes your tasks each week into must-action, should-action, or could-action, providing you with a prioritized list underpinning how you manage your time most effectively.
Rankings - The ‘Rankings’ tab is a leaderboard accessed by clicking on a single KPI on your Business screen. Each KPI has one, and it will tell you the position of your store(s) versus other comparable stores in your organization. It will also tell you whether you have moved up or down in the rankings since the last period, and how many live missions are pushing you up the leaderboard!
Workpane - The screen that analyses the performance of a product, sub-category or category at a single store. Every improvement opportunity has a workpane, where you can view a performance chart and access Insights Explorer.