PBI Use Case #5: Marketing Dashboard (Part 3 of 4)
In the previous two articles, we covered two different approaches to get to know how our business is doing. The first approach was about the comparison between the actuals against historical data and the second was about the comparison between the actuals against the various targets of the company. In this article, we will compare the actuals against the actuals of our competitors, and for that we are going to use Power BI to create an Executive Dashboard.
Having data from our competitors is not an easy task (or cheap because most likely you will need a dedicated budget for this). Depending on the industry you are in, you might need to buy the data from vendors like Nielsen, Feedvisor, IRi, just to name a few (I am not doing affiliate marketing by the way). These vendors also offer analytics services in case you do not want to do it by yourself.
Assuming you already have the data, and you want to take care of the analysis, the next step is to create a process to acquire, transform and merge it with your data to create the benchmarks.
Most probably, you will not be able to compare everything at the lowest level. You will end up with data at some level: company level/Date, company/brand level/Date, company/brand/segment level/Date, company/country/brand level/Date, etc.
The main KPI is the Market Share by Company. It is surprising to see that Power BI still does not have an out-of-the-box visual to easily plot this type of data. For this use case, I used Charticulator to create a radial bar chart:
Next, how does the market share look like over time? for the selected period, this is the breakdown by company per month:
The following benchmarks will tell us when and where exactly we and our competitors are growing:
Sales Trend by Company in USD:
Trying to use smart narratives… still not convinced that the insights are 100% relevant but it is what it is:
And this is how the end product looks like:
Using cross filtering we can interrogate our data and understand where and when exactly we are stronger than our competitors, and vice versa.
Hope you enjoyed the reading as much as I did writing the story.
Wanna work together? I help people to learn more about Supply Chain Management, Power BI and Analytics: Training, Analytics projects, SME services.
PBI Guy
success@ootconsulting.com
