Design Document
docx
keyboard_arrow_up
School
Indiana University, Bloomington *
*We aren’t endorsed by this school
Course
302
Subject
Industrial Engineering
Date
Feb 20, 2024
Type
docx
Pages
4
Uploaded by SuperOryxPerson543
Design Document
Price Optimization Analysis: Sales, Profit Margin, and Price Elasticity
Pricing Manager
Goal
Price Optimization: Increase overall profit margins by strategically adjusting prices based on market conditions and cost fluctuations. Selected Data Fields
In one paragraph, identify the measures that are needed to address the goal listed above. Remember, both your measures and dimensions need to come from the same data cube. You cannot create connections between tables without primary and foreign keys, which do not exist in this data structure.
To address the goal of increasing overall profit margins by 5% within the next six months through price optimization, the following measures are needed from the same data cube: 1) Sales Revenue: to track the impact of price adjustments on revenue, 2) Cost of Goods Sold (COGS): to monitor cost fluctuations and their effect on profitability, 3) Profit Margin: to calculate the current and desired profit margins, 4) Price Elasticity: to understand how changes in prices affect demand, and 5) Historical Price Data: to analyze past pricing strategies and their outcomes.
In one paragraph, identify the dimensions that are needed to address the goal listed above. Remember, both your measures and dimensions need to come from the same data cube. You cannot create connections between tables without primary and foreign keys, which do not exist in this data structure.
The dimensions required for this goal are: 1) Product SKU or Product Category: to segment and analyze different products, 2) Time Period (e.g., monthly): to track performance over time and assess the impact of pricing changes in different periods, 3) Market Segment (e.g., B2B, B2C): to understand the varying responses to pricing adjustments in different customer segments, and 4) Geographic Region: to account for regional variations in market conditions and price sensitivity.
Visualization Type
In one paragraph, identify what type of visualization would be most helpful to you in visualizing the data you selected in the section above. Explain why you chose this chart type and how it would be utilized by the end-user while operating their business during ERPsim.
For visualization, a combination of line charts and scatter plots would be most helpful. A line chart could display the historical trend of key measures like Sales Revenue, Profit Margin, and Price Elasticity over
time, helping end-users identify patterns and fluctuations. A scatter plot could be utilized to visualize the
relationship between Price Elasticity and changes in profit margin, assisting in determining the optimal price points that maximize profitability. This visualization would provide a clear overview of the data, helping end-users make informed pricing decisions during ERPsim.
Layout
You should include a rough draft of what you hope to create in Tableau here. We recognize that what you create here will not be identical to the final product. The idea is to get a rough idea of where items will be placed, what the chart type will look like, how the axis will appear, etc.
DO NOT PLACE A SCREENSHOT FROM TABLEAU HERE.
It defeats the purpose of having a *rough* draft before developing the real thing. You will not receive credit for the layout.
Competitive Pricing Analysis: Our Prices vs. Competitors (Quarterly Comparison)"
Goal
Compare our team's sales prices to the base prices for each product using Tableau, ensuring alignment and guiding strategic adjustments to avoid pricing items excessively high or low. Regularly update the comparison to maintain ongoing insights into pricing effectiveness, fostering a data-driven approach for optimal pricing strategies.
Selected Data Fields
In one paragraph, identify the measures that are needed to address the goal listed above. Remember, both your measures and dimensions need to come from the same data cube. You cannot create connections between tables without primary and foreign keys, which do not exist in this data structure
In one paragraph, identify the dimensions that are needed to address the goal listed above. Remember, both your measures and dimensions need to come from the same data cube. You cannot create connections between tables without primary and foreign keys, which do not exist in this data structure.
Visualization Type
In one paragraph, identify what type of visualization would be most helpful to you in visualizing the data you selected in the section above. Explain why you chose this chart type and how it would be utilized by the end-user while operating their business during ERPsim.
Layout
You should include a rough draft of what you hope to create in Tableau here. We recognize that what you create here will not be identical to the final product. The idea is to get a rough idea of where items will be placed, what the chart type will look like, how the axis will appear, etc.
DO NOT PLACE A SCREENSHOT FROM TABLEAU HERE.
It defeats the purpose of having a *rough* draft before developing the real thing. You will not receive credit for the layout.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help