Case study

Optimizing Sales Results for a Global Asset Management Firm with Power BI Sales Reporting and Analysis

About Client

Organizational data that was majorly unprocessed was spread across multiple systems. There was no central data warehouse implemented.
The sales team comprises more than 1000 employees situated in various regions.

Problem STATEMENT

Our client was facing challenges in accurately tracking and analyzing their sales data. The company’s existing systems didn’t provide the necessary insights into customer behavior and various product sales trends, leading to missed opportunities for growth, revenue, and cross-selling opportunities. The company was seeking a solution that will help them improve their sales data management, gain a better understanding of their customer’s needs, and identify new business opportunities. Overall, we narrowed down the scope to the following sub-problems –

Data Analysis and Management: Analyzing large amounts of data from various sources, including customer transactions, market trends, and regulatory compliance was challenging, and they didn’t persist the right technology or skilled personnel to handle it.
Changing Consumer Behavior: Customer behavior was transforming, with more people using digital channels and expecting quick, personalized experiences. They were facing problems in adapting to these changing consumer behaviors to remain relevant and competitive.
Absence of a functional reporting dashboard: The client did not have a visually appealing dashboard or reports to monitor the KPIs. Instead, they relied on spreadsheets to analyze the data, which was an inefficient method due to its proneness to human error and inability to handle large amounts of data effectively.
Customer Acquisition: In the competitive environment, acquiring new customers stood as a significant challenge. Our client lacked a well-defined target audience, effective marketing strategies, and an understanding of their customers’ needs to attract and retain new customers.
Sales Reporting and Marketing Efforts: No attention to detail regarding what’s driving the results, hence, despite the sales team’s efforts to raise brand awareness in upcoming regions, their endeavors proved to be fruitless. The team was unable to capitalize on the target customer data to make strategic decisions.

Solution

After carefully listening to the concerns expressed by our stakeholders, we have taken note of all the necessary tasks that need to be accomplished and presented the following solutions:

We identified and collected all the data from various sources such as CRM systems, email marketing platforms, and sales databases. Next, we removed unnecessary segments. The collected data was then integrated into a centralized enterprise data warehouse to store the data.
The cleaned, transformed, and structured data was analyzed using various techniques. We identified meaningful relationships and trends in the data that can be leveraged to make informed decisions. We performed customer sales, geospatial, and comparative analysis to understand consumer buying behavior and discover sales opportunities.
For better visualization of the data and to gain real-time insights, we built custom sales analytics dashboards using Power BI. The easy-to-use sales dashboard, powered by an advanced BI algorithm enabled all-around detailed reporting and analysis of our client’s sales data.

Business Impact

The unified sales data pipeline and sales analytics dashboard enabled the business to gain a comprehensive view of sales performance and derive 9% more sales by the following quarter.
The real-time insights from detailed sales reporting and data visualization by the advanced BI algorithm helped the sales team identify their target group, understand customers’ preferences, and locate profitable geographies. By this, the customer acquisition rate increased by 16%. New customers started onboarding from targeted geographies.
Our client was able to effectively assess the performance of the sales team and identify the high performers. The regions where the sales team didn’t perform at par, were given training, which eventually resulted in increase of sales in the areas churning lower revenue.
The centralized monitoring and analysis system streamlined their sales data management process, eliminating redundancies, and increasing the overall speed of the operations by 14%.

Overall, our solution helped the business make informed decisions, improve sales performance, and gain a competitive edge in the finance space.

Industry

Financial Services & Banking

Services Used

Data Warehousing, Power BI

Region

Asia-Pacific

Function/Department

Accounting and Finance, Financial Planning and Analysis (FP&A), Operations Management, Strategy and Planning

Engagement Model

End to End Project Lifecycle Management

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Ankush

Business Development Head
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