Revenue Increase with Product and Weather Correlation Analysis
Case Description:
A food industry company faced challenges in maximizing sales due to a lack of visibility into consumer behavior and its relation to weather conditions. Dataside developed a solution based on correlation analysis to identify consumption patterns, creating opportunities for cross-selling and strategic adjustments in product offerings.
Challenge
The client needed to understand how weather conditions influenced product consumption and optimize stock planning. They also struggled to identify which products had the highest potential for cross-selling, hindering strategies to maximize revenue.
Solução
Dataside developed an interactive Power BI dashboard that analyzes the correlation between weather conditions and customer consumption behavior.
Correlation analysis algorithms were applied to determine the likelihood of joint product purchases and predict the impact of weather conditions on sales. For example, the solution identified that on hot days, there was a significant increase in demand for refreshing beverages and that certain products, such as natural snacks and orange juice, had a high propensity to be purchased together.
Benefits
Cross-Selling Opportunities:
The correlation analysis between products led to a significant increase in combined sales, optimizing strategies for promoting and offering complementary products.
Sales Planning Optimization:
By analyzing the influence of weather on consumer behavior, it was possible to adjust offers and plan inventory more efficiently, ensuring the right products were available at the right time.
Revenue Growth:
Understanding consumption patterns and adjusting stock and promotion strategies allowed the client to increase revenue and improve product allocation.
