An online retail store has hired us as a consultant to review their data and provide insights that would be valuable to the CEO and CMO of the business. The business has been performing well and the management wants to analyze what the major contributing factors are to the revenue so they can strategically plan for next year.
Tools used- Tableau , MS Office
Task 1 - Framing the Business Scenario
Learned how to anticipate the questions, the business leaders will need answers to.
A meeting with the CEO and CMO has been scheduled and we need to draft the relevant analytics and insights that would help evaluate the current business performance and suggest metrics that would enable them to make the decision on expansion.
The leadership is interested in viewing the metrics from both an operations and marketing perspective.
Task 2 - Choosing the Right Visuals
Learned which visuals are most effective in a given scenario and Chose the right charts based on needs such as Comparison, Distribution, Relationship, and Composition.
Task 3 - Creating Effective Visuals
We would need to provide insights that they can use to create the expansion strategy. The executives want to analyze the trends and the breakdown by different categories so that they have clarity on how the revenue is being generated and what are the main factors affecting the online store.
We need to ensure that the data we are using is of good quality and does not contain any bad data that would adversely impact our analysis. Once the data is cleaned, the next step would be to create the visuals on Tableau.
Task 4 - Communicating Insights and Analysis
Effectively communicating the findings and explaining how they relate to each scenario in a business-friendly language.