Business
Challenge:

Revitalizing GCC Electronics Supplier, Sales Rejuvenation through Data-Driven Solutions and Strategic Insights

The client, a GCC-based electronics supplier catering to retail giants, engaged TurnB in 2022 due to a gradual sales decline. TurnB conducted a diagnostic analysis, uncovering market shifts and evolving consumer trends as the root causes. Strategic solutions were crafted to adapt the client's approach and reverse the decline, aiming to rejuvenate their market standing. This collaborative effort sought to restore the client's sales trajectory and competitiveness.

TurnB Approach


Client Discussion to Understand Objective:

Discussions with stakeholders were held to understand client requirements and grasp the company's data assets.

 

Brainstorming:

  • Possible factors contributing to the sales decline were listed, providing direction for analysis. Main factors included:
  • Customer Behavior
  • Inventory Management
  • Brand Competitors
  • lations, enabling prompt interventions to avert cancellations.
  • Purchase Returns from Customers
  • Positioning of Products in Retail Stores
  • Poor Marketing Practices

Dataset Creation and EDA:

  • Identified data sources required for analysis in consultation with stakeholders.
  • Checked for missing values, data discrepancies, outliers, etc.
  • Extracted, treated, and maintained data to ensure correctness.
  • Employed automated data transformation techniques for proper data quality and reduced ETL time.

Root Cause Analysis:

  • Conducted exhaustive analysis on factors such as:
  • Time Period Analysis: Analyzed four years of data for revenue, customer base, product prices, margins, and portfolio changes.
  • Product Analysis: Evaluated SKU portfolio, and product performance, and explored correlations between inventory and purchasing activities.
  • Customer Analysis: Utilized multiple customer segmentation models to understand purchase behavior, performance, and engagement.
  • Sales Executive Analysis: Scrutinized performance and key indicators of sales executives, identifying poor performers.

Story Design and Document Creation:

  • Crafted a narrative conveying insights, transformed into a document with compelling visualizations.

Client Discussion & Recommendation:

  • Communicated insights and recommendations to improve sales revenue to the leadership team.
Approaches background
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Implications

  • Root cause analysis enabled correlation and analysis of key sales-driving factors.
  • Developed a Customer Analysis Framework for patterns, retention, churn, and purchase portfolio.
  • Created a product analysis framework for performance, lifecycle, and inventory monitoring.
  • Developed models for analyzing and optimizing product and SKU performance.
  • Established a salesperson framework based on multiple KPIs.
  • Implemented a process to capture additional data, enhancing the company's data footprint.
  • Improved customer engagement and retention.
  • Enabled proactive measures by identifying levers for maximizing sales.
  • Streamlined operations and automated reporting for client stakeholders.
  • Instilled an analytical DNA in the client.
  • Enhanced the company's data assets.
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