Managing multiple stores spread across different geographic regions can become a difficult task to manage. Each store will have its unique set of challenges and opportunities. Identifying those challenges and opportunities is the key to manage this kind of business effectively.
Top tier data visualization tools like Tableau and Power BI has the feature of seeing the data in Geo spatial area. The sales and profit are either color coded or represented by size.
With one view the user can easily understand that there is probably less demand in south east and north region and high demand in south and south west region (Above fig). Now based on this information the user can one of many decision:
- Increase the marketing effort in the region
- Change the product offering to better suit the local demand
- Exit from the business in that region
The user also knows that here not one store but multiple stores are facing similar problem. Thus, one can conclude the there is no issue with personal.
Problem of low sales low profit is always a symptom. It is imperative to understand the cause of the system. This kind of visualization helps in quickly identify the cause. Once the cause is identify. One could take a better decision.
Identifying which chart to use to analyse which kind of data is a skill. For instances one could have easily shown a bar chart for similar kind of data. However, it would be difficult to figure out that 2 states in close proximity have similar issue without a fair geographic knowledge of the region. One could led himself/herself to believe that these are independent issue but only with this kind of visualization one will able to understand that there is only one issue instead of 2.
Wrong diagnosis of the symptoms may lead to wrong treatment. This can be counterproductive.
Perfview Management Consulting with its experience knows which chart is best suited for which kind of data.
2 thoughts on “How Data Visualization helps chain of store?”
Itís difficult to find well-informed people in this particular subject, but you sound like you know what youíre talking about! Thanks
Can I simply say what a comfort to discover somebody who truly understands what they are talking about on the internet. You actually know how to bring an issue to light and make it important. More people must look at this and understand this side of your story. I was surprised that you are not more popular because you definitely possess the gift.