Using Python to complete sales analysis
"Sales_Data_Original" contains the csv sales files on 2019 compiled by month. "Sales_Data" contains all csv's merged into one file. This file is imported in jupyter and given the df name of "Sales_Data"
- What was the best month for sales? How much was earned that month?
- What city sold the most products?
- What time should we display advertisements to maximize the likelihood of customer’s buying product?
- What products are most often sold together?
- What product sold the most? Why do you think it sold the most?
The results showed that sales were highest in the month of December earning $4,613,443 in revenue while January was the lowest earning just $1,822,257. Over 8 million dollars in revenue was contributed by the city of San Franscisco, CA. A telling concern is that Portland, ME contributed less than 1.5% of the total revenue in 2019. Peak hours of purchase are between the hours of 10 am and 2pm as well 5pm and 9pm. Meaning that if ads were to run during lunch times and after work hours we could see an increase in sales. As for products commonly sold together, for this electronics company we see the common pairs as the iPhone and Lightning Charging Cable. Finally we saw that AA and AAA bateries were sold the most. This is no surprise for an electronics store.
Most businesses follow the general rule of maximiing profits and keeping costs low. For companies providing products, understanding your target audience is key to optimizing sales. Knowing who, what, where and when to show advertisements can be critical to the success of a business, especally now as we make the shift from brick and mortar to online stores. There is much to be gained from this information. While this project focuses on who would be wanting to buy these projects, we could stand to take it a bit further and evaluate who isnt buying. Then ask ourselves why and begin brainstorming how to expand our reach to them. Some other questions to ask:
- October was the second highest earning month. While December being the highest is unsurprising, what happened during October to promote that volume of sales? Did we advertise more? Were we selling more high ticket items?
- Sales are highest in San Francisco, CA. Why is that? Which products are being are most being sold there? Portland, ME has the lowest number of sales. What methods are currently being used to market to this area? What are the demographics like (we would need more info colected to reach this answer)? Can we compare any of our other cities to see if any of those are similar to Portland, ME and then try to implimate some of our advertising strategies? Should we consider pulling our products from there?
- We would need to adjust for city time zones.
- Finding products that are most sold together can help with promotional ads or products placed in stores. Identifying products least sold together can also help in this way.