Using Microsoft Power BI to help an Automotive Giant in Inventory Management (Automobile)
An automotive giant was sitting idle on the data of its customers without realizing the significance of the data. Upon realization, they approached us at Glorious Insights and our team of experts helped them. The team found out that the data could not only help them increase their revenue via marketing campaigns but also help them in inventory management. Check out this case study which describes how Glorious Insights used Microsoft Power BI to help the Automotive Company manage its inventory.
Customer background
A blooming e-commerce platform has been serving in the field of automobiles for many years. Through all these years the company acquired a massive reserve of transactional data through their client’s database. While the company was serving well, it recognized the value of this data and decided to put it in good use.
The company collaborated with Glorious Insights to exploit this large amount of data to develop an intelligent inventory. This would help in making more informed decisions about the profitable area and keeping sufficient stock to address the client’s needs. It looks for a system that helps in identifying the profitable areas and areas that need improvements to deliver the clients exactly what they want.
Challenges
An automobile e-commerce platform serves thousands of customers daily. This leads to the accumulation of a huge amount of client’s data that is stored with the company. For many years this data was lying ideal. Upon realizing the importance of this data, the company thought of using it to draw useful information.
This information is intended to help find the areas that are yielding more profits and creating a smart inventory to exploit those areas. The challenge is to slice and dice the massive dataset and draw actionable information.
This information should be presented efficiently to allow easy analysis. According to the kind of information needed at different levels within the company, the reports should be made available. It would help in better decision making and accurate implementation of the plans.
Solution
The company collaborated with the Glorious Insights for a meticulous analysis of the problem. After a detailed study, Power BI turned out to be the most suitable solution. It is a versatile system that incorporates several apps, software services, connectors. All these components could work together to create a coherent set of information using diverse data from unrelated sources.
- Functional aspect
The new system could break down the gigantic dataset coming from different sources of the e-com company. It could generate dynamic and interactive reports for the analysts to identify the trends, composition, distribution, and stock availability of various products. It helped efficient inventory stocking by enabling analysis and forecasting.
The solution system helped in providing better quality and timely services to the customers and boosted revenue generation. It is user-friendly and experienced great acceptance within the company. The system provides necessary insight into the inventory in much less time and maintains the right quantity to deliver customer’s needs.
- Technical aspect
Power BI is a platform that is known for its ability to data conversion and enrichment. It can collect data from diverse sources such as spreadsheets, cloud-based, or hybrid data warehouse, etc. It filters the collected data and transforms it into reports that depict the important information in real-time. It visualizes the data in different charts and graphs that can be used for comparisons, categorization, drawing conclusions for making business strategies.
It helps the planners to maintain a smart real-time inventory with an ample supply of in-demand products. This ensures faster delivery to the clients and boosts sales significantly.
Results
The new system empowered the analysts to assess the sales trends using an easy-to-use dashboard. Reports generated by the system helped the planners to predict the stock requirements more accurately and maintain a smart inventory. The company is able to deliver to its clients much faster. The tailored solution also enables a better understanding of sales-trends and flawless anticipation of stock requirements.
