Store Performance Analysis
How do you use data analytics to understand the performance of your stores?
Hello, my friend,
How have you been? Today, I am sharing a project on store performance analysis using a laundry-pickup business dataset from Kirill Eremenko’s Tableau course.
I found this project exciting yet challenging. This was due to the fact that it did not only involve #dataanalysis but also included #forecasting, #clustering and how to tie the insights into a story in #tableau.
All right, enough of that, let’s talk about the project;
BACKGROUND
WeWashUSleep is a laundry-pickup service startup with 140 locations spread across two US regions. Recently, the company opened more stores in ten new cities.
BUSINESS OBJECTIVE:
The company wants to find out which of the ten newly opened stores will get the best return on marketing investment (ROMI) if more money is spent on marketing that store.
VARIABLES;
The dataset consists of the following variables;
1. Store ID: A designated number to represent each store.
2. City: The city in which a specific store is located.
3. State: The state in which a specific store is located.
4. Sales Region: The stores are in either US Region 1 or US Region 2.
5. New Expansion: Whether a store is old or new, denoted by ‘Old’ or ‘New’.
6. Marketing Spend: Amount of money spent on marketing the stores.
7. Revenue: The revenue generated from each store.
8. ROMI: This is the return on marketing investment and was calculated using the Tableau calculated field.
INSIGHTS:
This project had quite a number of insights, and one thing that was particularly interesting to me was the fact that, though some of the stores had higher revenues compared to the rest, they still did not make it to the top ten performing stores.
For example, before the cluster analysis and the revenue forecast, store ID 145 seemed to be the best-performing new store, with an average revenue and ROMI of £20.90 and £49.38K, respectively. However, the statistical analyses told a different story.
Would you like to know the story? View the full report below, and don’t hesitate to download it. Also , here is the link to interact with the store performance story
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