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March 12, 2024
Step by step Sales Analysis Use Case to implement effective sales strategies to maximize revenue & market share?
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Coca-Cola, the global beverage giant, serves up refreshment to billions worldwide with its vast array of soft drink brands spanning over 200 countries. Picture this: every single day, a whopping 1.9 billion servings of its fizzy concoctions are enjoyed by thirsty consumers.
Behind the scenes, there's a ton of data swirling around – everything from making drinks to getting them to your local store. Coca-Cola navigates this data sea using a smart, data-driven strategy to steer their big decisions.
In this article, we'll understand how companies like Coca-Cola might uses sales analysis to hit its annual revenue target of $45 billion and take a closer look at How to use Sales Analytics use case to implement effective sales strategies to maximize revenue & market share.
Alright, let's take a closer look at our Dataset: Beverage Sales Dataset
So, we've got this awesome Beverage Sales Data. We can see what drinks are selling where, whether it's online or in vending machines. You've got everything from transaction dates to retailer details to product specifics. It covers all sorts of beverages and sales channels, like online or vending machines.
And the best part?
This data is super helpful for spotting trends, figuring out what customers like, and seeing how well new drinks are doing and best suitable for sales analysis.
Each row in the dataset corresponds to an order made by a customer. We have the following features:
Before diving into the intricacies of data analysis and strategy implementation, it's crucial to establish a solid foundation. We will follow the 4 factors of Data Analysis and that are :
1. Identify the users or stakeholders for the dashboard.
2. Design Empathy Map to define Users' Goals and Challenges or pain points.
3. Identify Metrics or KPIs Matter the Most.
4. Understand the Objectives and Goals.
5. Ask Business Questions
I know it looks a bit overwhelming that’s why in this article, we'll lay the foundation for a top-notch sales analysis.
The first step in any this analysis is to identify the primary users or stakeholders who will interact with the sales dashboard. These individuals play a crucial role in shaping the dashboard's design, functionality, and content.
This individual is responsible for steering the sales team towards meeting revenue targets and expanding market share. Understanding the background, roles, responsibilities, needs, and pain points of this persona allows us to tailor the sales dashboard to meet their specific requirements effectively.
To design a sales dashboard that truly resonates with the persona, you need to understand their thoughts, feelings, and experiences.
You'll explore what they see, hear, think, feel, say, and do.
By empathizing with your persona's perspective, you'll gain insights into their aspirations for revenue growth, their concerns about market changes, and their determination to drive success. Understanding their goals and challenges enables us to develop a sales dashboard that addresses their pain points and supports their objectives.
Key Performance Indicators (KPIs) serve as the compass guiding our persona's journey towards revenue growth and market expansion. These metrics provide tangible benchmarks for measuring success and identifying areas for improvement. Identify KPIs such as
By tracking these KPIs through the sales dashboard, our persona gains real-time visibility into the health and performance of the sales organization.
Now, on the basis of Empathy Map and KPI’s, we need to define our goals and objectives of the Users. So, that it will align with the data story functionalities to ensure decision making. Here are the Key Objectives & Goals
Based on the defined goals & objectives, your next step will be to provide actionable insights to make a mark on Business Decisions.
Finally, to conclude your analysis, you need to ask right questions. These questions should be directly tied to the objectives and goals identified earlier and should guide our exploration of the data. By asking insightful questions, we can uncover hidden patterns, identify areas for improvement, and generate actionable insights that drive informed decision-making. Here are following Business Questions to ask:
Metric: Order Quantity, Total Sales Amount
Insights: This analysis will provide the total sales generated in terms of total order quantity and amount i.e. sales of $366.4 M with 6.3 M orders. As we can see that there are not many changes in sales over the years.
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SELECT
SUM([OrderQty]) [sumorderquantity]
FROM
BeverageSalesData;
SELECT
SUM([SalesValue]) [sumsale]
from
BeverageSalesData;
SELECT
DATEADD (YEAR, DATEDIFF (YEAR, 0, [TransactionDate]), 0) transactiondate,
SUM([SalesValue]) [sale]
FROM
BeverageSalesData
GROUP BY
DATEADD (YEAR, DATEDIFF (YEAR, 0, [TransactionDate]), 0)
ORDER BY
[transactiondate] ASC;
Metric: Total Sales
Insights: India seems to be a major market for the sales of Beverages as it is generating sales of 25% overall sales. In terms of brand, most of the sales are generated from sales of Coca-cola with 15%, followed by Georgia and Fanta.
SELECT
top 10 [Country] country,
SUM([SalesValue]) [sale]
FROM
BeverageSalesData
GROUP BY
[Country]
ORDER BY
[sale] DESC;
SELECT
top 10 [Brand] brand,
SUM([SalesValue]) [sale]
FROM
BeverageSalesData
WHERE
1 = 1
AND [Country] IN ('India')
GROUP BY
[Brand]
ORDER BY
[sale] DESC;
Metrics: Cost per Unit, Sales
Insights: Brands such as Coca-cola, Fanta, Limca, Sprite and RimZim are generating high sales with low cost per unit, while brands like Honest Tea, Schewppes are performing badly despite their very low cost per unit.
SELECT
[Brand] brand,
SUM([SalesValue]) [sale],
AVG([CostPerUnit]) [costperunit]
FROM
BeverageSalesData
GROUP BY
[Brand];
By framing this data story in alignment with business goals, organizations can get deeper insights that drive impactful decisions.
By combining a user-centric approach with data-driven insights and strategic inquiries, organizations can navigate the complexities of their sales with confidence and agility. The end goal is not just efficiency but the creation of a sales that adapts, evolves, and serves as a strategic asset in a competitive marketplace.
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