• 4 week contract

 

We will use proven statistical approaches to transform data into clear, easy to understand information; teaching proactive strategies through decision-making for improved profit margin results.  And you can count on unbiased recommendations and impartial guidance based directly on your needs and goals.

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We integrate with your team to review your current sales reporting and dashboards to find the best way to improve to get the most out of your data. Currently not using a dashboard? You should be and we'll show you why. What's missing? What should be drilled-down? Why are there inventory issues? So many questions and insights to be examined. This is a quick outline of where we explore and explain:

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I. Understanding Key Metrics 

A. Sales metrics

1. Total sales

2. Sales per square foot

3. Sales growth rate

B. Inventory metrics

1. Inventory turnover

2. Gross margin return on investment (GMROI)

3. Stock-to-sales ratio

C. Customer metrics

1. Conversion rate

2. Average transaction value

3. Customer satisfaction score (CSAT)

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II. Data Analysis Techniques 

A. Data collection and organization

B. Exploratory data analysis (EDA)

1. Identifying trends and patterns

2. Outlier detection

C. Statistical analysis

1. Regression analysis

2. Correlation analysis

D. Predictive analytics

1. Demand forecasting

2. Sales prediction

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III. Dashboarding and Visualization of Key Metrics

A. Introduction to dashboarding tools 

B. Designing effective dashboards

1. Choosing the right metrics to display

2. Creating visually appealing and user-friendly dashboards

C. Interactive data exploration

1. Filter and drill-down functionalities

2. Dashboard interactivity for better insights

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IV. Applying Insights 

A. Merchandise assortment planning

B. Pricing and promotion strategies

C. Inventory optimization

D. Visual merchandising and store layout

E. Supplier management and collaboration

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V. Case Studies and Hands-on Exercises

A. Analyzing historical sales data to identify trends and make data-driven decisions

B. Creating dashboards to monitor key metrics and track performance

C. Simulating scenarios for merchandise assortment planning and pricing strategies

 

VI. Best Practices and Challenges

A. Data quality and data governance

B. Balancing art and science in decision-making

C. Adapting to changing consumer behavior and market trends

 

VII. Conclusion and Next Steps

A. Recap of key learnings

B. Recommendations & Summary