- Project
Ideal Customer Profiling and Strategy Development
This Tableau project focuses on identifying and profiling ideal customers for a company. The analysis aims to provide insights into customer demographics, purchasing behavior, and preferences. The ultimate goal is to support strategic decision-making in areas such as product development, sales channel optimization, marketing, and operations. The project addresses the company’s concerns about direct profitability, repeat sales, product mix, and cost of maintenance.
- 2023
- Global Intl.
- Tools: Tableau
- Client name
In order to make informed decisions about investments in product development, sales channels, marketing, and operations, a thorough understanding of the company's ideal customers is crucial. This analysis aims to provide detailed profiles of these ideal customers, considering factors such as direct profitability, repeat sales, product mix preferences, and the cost of maintenance.
Tableau, a prominent Business Intelligence (BI) tool for data visualization, was employed for this analysis. The study involved the creation of 10 graphs and 2 dashboards to extract meaningful insights from the data.
The analysis covers various aspects of customer behavior, including education level, income, web visits, product sales, sales channels, complaints, family composition, and revenue generation. Key elements explored include education level for each marital status, income distribution, web and store sales, and the impact of marital status on purchasing behavior.
Dashboard 1
Ideal Customer Identification: The first dashboard focuses on identifying the ideal customer. Through the analysis of education level and marital status, it is concluded that Married Graduates emerge as the ideal customer segment, contributing significantly to both purchases and revenue (19.33%). Single Graduates follow closely, generating the second-highest revenue at 11.25%.
Sales Channel Development: The graph indicates that deals and catalogue purchases, while low, present an opportunity for increased web-based sales. Marketing efforts should be directed towards promoting web-based sales, particularly targeting married customers who have higher incomes.
Dashboard 2
Product Development Insights: Analyzing overall product sales reveals that wines and meat products perform well, while fruits and sweets require improvement based on customer feedback. Special attention is recommended for products like fish and Gold, which show potential for increased revenue.
Additional Insights: 1. Married customers are a potential target, with the highest income and the second-highest store visits. 2. Declining web visits suggest a need for focus and improvement in the online section. 3. Customers with lower incomes are less likely to engage in campaigns. 4. Recent in-store visits correlate with increased participation in campaigns. 5. Catalogue purchases significantly contribute to campaign success.
Conclusion: This comprehensive analysis provides valuable insights into customer profiles, enabling strategic decision-making in product development, sales channels, and marketing. The emphasis on Married Graduates as ideal customers, the potential for increased web-based sales, and the significance of certain product categories guide the formulation of targeted and effective business strategies.