Use Data Visualization to Analyze your Business Data with Tableau
Sharpen Strategy with Data Visualization
Using Tableau or other dashboard tools can sharpen your company strategy and bring your business data to life through data visualization.
1. Monitor Dips or Spikes in Sales
Dashboards like the one above allow you to monitor dips or spikes in sales. Next, you can determine which products are driving sales and then adjust accordingly.
2. Perform Segmentation of Data Visualization
You can also use dashboards to perform segmentation. First, isolate one-time customers and then use this information for ad retargeting to convert them to repeat customers.
3. Analyze Sales by State or Region
E-commerce companies typically have customers all throughout their region and beyond. Visualizing your data in a dashboard allows you to see your sales by state and region so you can evaluate performance geographically.
4. Use Data Visualization to Inform Product Strategy
Use dashboards like the example above to determine which products are selling and which might be underperforming. This can inform decisions for future products.
A Word on Functionality
Dashboards of value have certain parameters. Firstly, the example dashboard is using dummy data so it does not correlate to any existing business sales. Dashboards can use e-commerce stores based on Shopify or Etsy as possible data sources for a dashboard like this.
Users can zoom in and out of the sales over time functionality to view by year or month, allowing further specification and more precise inferences about your business data trends. This can help to establish typical KPIs for e-commerce sales and companies or reaffirm existing KPIs that you have identified.
The data from these dashboards can be easily exported into a CSV file for further analysis. Users can also send to an automated marketing platform allowing them to target customers by state, purchase count, or a specific SKU.
Make Sense of the Data and Grow
Sometimes data visualization tools like visual dashboards can just look like complex numbers and charts. However, visualizing and understanding your business data can unlock new ways of strategic thinking. This allows you to extract more value from the data that you collect. Combining these new insights with operations and strategic planning is key to growing your e-commerce business.
Parallel Analytica meets clients where they’re at in their data analytics journey. We work with you to create dashboards that will be the most valuable for growing your business and we help inform your data analytics strategy.
Schedule a consultation today to find out how Parallel Analytica can help your organization unlock insights using your own data.