In this video tutorial, I’m going to go through something quite practical for a retailer who sells goods at a high frequency.
When you are a business that sells a lot of goods – let’s think about an online retailer – if you can analyse how much you would benefit from increasing your average order size, you then have a piece of analysis that can very effectively be turned into a plan of attack that will make a big difference to your bottom line.
From this insight, you could run promotions or marketing events that are focused on the clients where you feel you’re going to get the highest return.
With this example I cover a few different DAX techniques. There’s a lot to take away from it, especially from a technical point of view. You can learn how to run iterating functions over your underlying data tables to discover this particular insight, but also see the potential for many more insights just like it.
This analysis is really practical and commercial, which is why I like it so much. It can add a lot of value to organizations which sell at a high frequency, fast.
You’ll be able to answer the question, if I increased my average order size, what is it going to do to my profitability? What is that going to do compared to if our average order size actually decreased?
Check it out and try and work these techniques into your own models.
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