One of our clients, a retail outlet, had low-profit margins but could not determine why. Our specialist knowledge enabled us to help them identify and then rectify where they were going wrong.
To help the retail outlet ascertain where they were going wrong, we uploaded their 40,000 products into a power pivot. Power Pivot is an excel add-on that adds crucial business intelligence capability to Excel’s core uses, including having a larger data capacity than Excel spreadsheets. We had to use Power Pivot as a standard Pivot table would not have had the capacity to facilitate the volume of data.
After sorting this data within the Power Pivot, we used specific key performance indicators to establish which products were below the correct profit margin threshold. Those products that were below this threshold were colour coded accordingly. On those products that did not meet the necessary threshold, we increased the profit margins by 5%.
By using our specialist expertise, we got this client fantastic results. The 5% increase on those products, which did not reach the threshold, led to a huge yearly profit margin increase of £100,000.