Business Intelligence for Trade - Part 2
Practical application areas of Business Intelligence to Small and Medium Enterprises
Hello, f you haven't read the part 1 Click here.
Our Business Intelligence Tool:
Name: Qlikview
Website: http://prod.qlik.com/us
We also have very good tools like Excel, Power BI, tableau etc.
In this presentation, I’ll be making use of one of the leading BI tools called Qlikview.
Why Qlikview?
It is one of the best and I have used it professionally for a client project.
Leading BI Tool: prod.qlik.com/us/resource-library/gartner-m..
What is Qlikview?
Qlikview is a leading Business Discovery Platform. It is very powerful in visually analyzing the relationships between data
Restaurant Business Case Study.
This example will show how Business Intelligence will add value to a restaurant business.
Business Requirement from Management
1. How can I improve the sales for my restaurant?
2. Which product sells more for my restaurant?
3. Who is my highest sales customer?
4. Where do I spend most on expense?
Checks List:
Do we have business data? Yes
What data do we need for this business intelligence application?
As a business intelligence analyst, you need to know the answer to the questions
- Which data do I need for this solution? Do I have it?
Data Categories:
Sales record by product and customer
Expense record.
Things to note for analysis
Qlikview is a new topic on its own but I will be explaining two major terms to understand our chart. Dimensions and Measures.
Dimension − It is a descriptive field in the data set which represents few distinct values. Examples − Month, Year, Product ID etc.
Measures − It is a numeric field on which some calculations are performed for each distinct value of the dimension.
Dimensions and Measures Image
Business Intelligence Restaurant Analysis
- Chiffy Restaurant Analysis for 2018 and 2019
What did we analyse for Chiffy Restaurant?
- We have analysed how much Chiffy spends on furniture expenses which is 54,600 and we will compare this to other expense categories to know where they spend more money. This will help Chiffy reduce costs in their expense category which is not a priority.
- 2018 Analysis for Chiffy.
We can see Chiffy made 833,000 in 2018 revenue and spent 73,500 for expense. We can also see the top customers that spent more. Tony - Olatunji - Babatunde - Phebian in descending order.
We can also see that a lot of customers bought meal type Z.
What can we infer from this?
Better inventory or dinner-making decisions. Since we know meal type Z makes most of our revenue we could make more of meal type Z or look for ways to improve the meal-serving client experience.
- Hubmart wants to know
Who is my highest sales customer? Steph
Which product sells more for my restaurant? Meal type A
- The place revenue analysis by time.
- We noticed that total sales made by 9:58 Pm for The place sums up to 480,000 and the meal type highest in demand by this time is meal type Z. As a manager I can infer that there is never a downtime in electricity by this time and also the customer that buys by this time is Steph. This analysis shows us our customer buying pattern for meal type Z.
- The Place analysis for 2018 and 2019
Who is my highest sales customer? Steph and Tony
Which product sells more for my restaurant? Meal type z
- The Place analysis for 2019
Who is my highest sales customer? Steph and Olatunji
Which product sells more for my restaurant? Meal type Z
What can Business intelligence make us infer?
We noticed in 2018 and 2019 customers don’t buy meal types K and A we can look for a way to improve this meal type.
From the restaurant examples generally, I can add value to this business by-
Making them improve on products customers really don’t buy.
Improve customer service for products customers really love.
Identify customer’s buying patterns like Steph that buys at 9:58 pm every time from the same place.
Identify top to lower expense categories and how expenses in low-level priority areas can be reduced.
Use the past financial record to properly advise on how much should be allocated for the budget to several expense categories.
I would like to ask my question again.
Would you buy Business Intelligence to add value to your business?
Yes
No
Not Sure
"No man takes knowledge to the grave, knowledge is shared to make the world a better place." - Olatunji Fagbore - 2019