Real Time Performance Dashboards

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Sales Dashboard

Unlike major MNCs that have dedicated analysts and accountants, an SME can often find itself struggling to assess the true health and financial position of the business. Data Analytics can help bridge this gap and allows easy access to all essential KPIs - make better and more informed decisions.

For this Sales Dashboard, we can take the example of Premium Textile Ltd., a medium scale textile business that operates in 5 states in the USA with 5 inter-related product lines and has 5 sales representatives.

Some of the major challenges this organization faces are:

  • Assessing sales distribution by location, product and its comparison to targets.
  • Understanding and acting on risk areas such as the reasons for sales return and their implications.
  • Allocating resources to various marketing sources based on R-OI analysis.

Key Insights

  • Going by the sales map the sales have been directed to the coastal areas where most of the textile industry resides.
  • Out of all the products Yarn being the Raw Material has the lowest sales which accounts to $94.40K. Comparing it to the target sales month on month the actual sales figure consistently did not meet the target. Yarn also has the least consistent sales trend amongst the sales representatives. Julie has recorded staggered sales of yarn in months Jan, Feb, April, May and December.
  • Garments, the product line which is only sold through retail channels, returns the maximum profit and sales figures standing at $129.31K and $1120.72K respectively. The biggest retail market for garments is California where the highest sales number have been recorded Sacramento ($146,302), San Francisco ($138,049) and Los Angeles ($92,898).
  • During the year Paul has recorded outstanding sales figures standing at ($374K) comprising mostly medium and large deals. His other sales colleagues have averaged approx. $352K, thereby indicating a satisfactory level of performance by the sales team.
  • Using the sales decomposition chart, it can be inferred that the major reason for sales return has been due to supply of damaged products ($121,140). Garments i.e., the company‚Äôs only retail product has suffered the most due to this ($70,827) therefore indicating a need for handling and storage guidelines within the supply chain to rectify the same.
  • Marketing campaigns and referrals are the two major conversion sources representing 37.24% i.e., $664.43K and 30.94% i.e., $551.89K of total sales respectively. As for the website which represents merely 9.98% i.e., $178.08K of the total sales, Premium Textile Ltd. must perform a cost benefit analysis to optimize marketing strategies.

To follow a balanced approach and take data driven decisions, Premium Textile Ltd. can leverage data analytics. It can tackle the challenges of reporting, tread through the business environment and assess real-time sales positions of the company.

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