Retail sales analysis

Description:

This project typically focused on examining various aspects of sales operations, customer behavior, market trends, and sales strategies to identify patterns, trends, and opportunities for improvement.

Objective:

To gain valuable insights into the organization's sales operations, product sales performance, customer behavior and market dynamics which will aid decision-making and improve sales performance.

Methodology:

Data Collection: Gathered relevant sales data from multiple sources, such as transaction records, customer databases, and external market data.

Data Cleaning and Preparation: Ensured the data was accurate, consistent, and ready for analysis by removing duplicates, correcting errors, and formatting the data properly using power-bi query editor.

Exploratory Data Analysis: Performed exploratory analysis to understand the distribution, patterns and relationships within the sales data. This involved visualizations, statistical analysis, and segmentation to identify trends, outliers, and potential areas of focus.

Sales Performance Metrics: Defined and calculated key performance indicators (KPIs) related to sales, such as revenue, sales growth, conversion rates, average order value, customer acquisition costs, and customer lifetime value.

Sales Forecasting: Used historical sales data and predictive analytics techniques to forecast future sales trends, demand, and customer behavior. This helped with inventory planning, resource allocation and set realistic sales targets.

Customer Segmentation: Analyzed customer data to segment customers based on demographics, purchasing behavior, preferences and other relevant criteria. This helped tailor sales strategies, marketing campaigns, and customer retention efforts.

*Sales Territory Analysis: Assessed sales performance by geographic regions or territories to identify high-potential markets, allocate resources effectively and optimize sales coverage.

Analyzed market competition and benchmarking against competitors to identify strengths, weaknesses, market share, pricing strategies and areas where the company can differentiate itself.

Reporting and Visualization: Created comprehensive reports, dashboards, and visualizations to communicate findings, insights, and recommendations to stakeholders, such as sales managers, executives, and marketing teams.

Recommendations and Actionable Insights: Provided actionable insights and recommendations based on the analysis to improve sales strategies, optimize processes, enhance customer engagement, and drive revenue growth.