Below are two dashboards which summarize my findings on a
case that I worked on. The contents of these dashboards contain a breakdown of profits using different criteria, profit trend overtime and profit forecasts.
Observation/Analysis:
From these charts, we can see that the company enjoyed a constant increase in profits until Q2 of 2016 when the profits dropped massively by $915,060 into Q3 2016 and from the profit forecast, this is expected to worsen overtime. We can also see that although the company spends 1.3 times more on production for phones than it does for other categories combines, it makes 5.6 times less profit from phones than other categories combined.
The second forecast shows us that phones have done terribly compared to other categories from the start of January 2015 and although it picked up a lot at the end of the year, another trend reversal is expected into 2017. This trend reversal will be across all categories.
Other things we can see from the dashboard are that there are more Male customers, Cash is the most used payment option, Lagos makes the most profit, Feyisola is the leading salesperson and Young adults (31-46) are the most frequent buyers. Additionally, we can see that the company makes its most profits from Accessories, with wrist watches leading the charge.
Recommendations:
• The company should focus more of its time and resources on the production of accessories as, this category is far more profitable even with less resources being put towards its production. Furthermore, more attention should be put on wristwatches as they are the leading products in the category.
• More efforts should be put into producing male items and it is worth looking at how the female collection can be improved so that more women purchase from them. Similarly, the company should invest more in products for Young Adults and it is worth discontinuing production of items for senior adults and elders so that more resources can be used to support the other three age groups.
• Since Lagos is the bestselling state, the company can consider opening more branches so that more customers can be reached. It might be worth positioning these branches in places where more men and young adults are likely to visit.
• As stated earlier, cash is the most used payments option and I intentionally put it as “used” and not preferred because typically in Nigeria this might be as a result of network inefficiencies affecting P.O.S usage. The company should look into why this is the case.
• Lastly, as Feyisola and Ramota are the leading salespersons, I think they should be frequently rewarded and given more resources to drive their motivation as well as that of others.
This write up was originally published on my Linkedin profile and you can find it here:
Comments