Retail Company Case Study
The client is a renowned retail company having several national branches. The company sells over 200 products through channels, including 15 mega retail stores and 2000+ small and medium-sized stores. They already had great marketing campaigns and a dedicated sales team; however, they still couldn’t see desired results and hired us to execute an in-depth sales analysis.
The Business Challenges
The client needed to collect data in various formats and file types from different stores. This negatively affected their productivity, and the analysts could not provide reports in a comprehensive manner.
Here, at Cogneesol, we were assigned the project, and we had to build a system that could process and combine data to provide advanced analytics.
There was a need to enhance sales reporting and analytics so that the client could make better business decisions faster.
They were unsure about the accuracy of their sales data and lacked the resources to rectify this issue.
The client was looking for an umbrella solution for all their analytics requirements.
We are surprised with Cogneesol’s sales analysis performance; they have literally surpassed our expectations. We are much thankful to their analysts.
Cogneesol started the groundwork for pulling new, advanced market and sales insights. For this, we made a plan that included;
- Categorizing the already-available data
- Reviewing the client’s sales process
- Identifying how analytics could help
- Creating a platform for analytics
Our team of expert analysts utilized various tools, resources, and skills to bring helpful insights for the client’s sales force, helping them make informed decisions.
We also built a practical framework that helped us identify drivers for sales performance quite quickly and easily.
Our analytics services added to the client’s sales analytics and market evaluation capabilities that further brought useful insights and improvement recommendations to all aspects of the client’s company.
We also organized the client’s data chaos, converting it into a piece of easily accessible and actionable information.
The Impactful Results
Our efficient utilization of market intelligence platform and advanced sales analytics brought crucial information, insights for the client’s sales team. It boosted their confidence and provided them the right direction to develop their sales strategies.
The outcomes experienced across the sales department and the company were excellent.
- A growth of 20% in revenue (year over year)
- A growth of 15% in the margin (year over year)
- Customer scorecards were performing better)
- Addressed and rectified uncompetitive aspects of sales
Most importantly, the sales team had fully embraced the provided data and made better decisions, which led to gaining a reputation in the market, helping them stand out from their competitors.
It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.
Team Cogneesol worked wonders with our social media data. They helped us with customer age and profile segmentation for our beauty products, which has, in turn, made our advertising very focussed. Our sales have gone up in certain segments.
We were struggling with high employee turnover. Cogneesol’s HR Analytics helped us understand employee morale, development, and growth aspirations. We have now been able to address most concerns, and to that extent, been able to curb attrition.
Cogneesol’s Claims Analytics team has streamlined our claims data, making it that much easier for us to decipher data tables, create charts and reports, and take corrective actions. Thank You!
Your team gave us thorough analyses of our patient behavior and trends. Using your reports, we revised our strategies that, in turn, brought in increased income. We also understood which segments were redundant and have now phased them out completely. Thank You! You have become an important part of our planning team.