5 Benefits of Using Tableau To “See” Opportunity

5 Benefits of Using Tableau To “See” Opportunity

Last week we reviewed organizing and cleaning your data so that you can analyze it.  Now that you have your excel file ready, let’s discuss Tableau.  Tableau is a software application with a mission to “make databases and spreadsheets understandable to ordinary people.”  The application offers plenty of training options to get started.  

Understanding your past helps to plan for the future, however, sometimes it can be tricky.  Not a spreadsheet person? Staring at rows and columns of numbers can be draining, the least not visually appealing. It’s no wonder that advertisements and instructional texts have pictures. I’ve said it before and will repeat it again, we are visual creatures. So why not use your data to your advantage and build some visualizations for your sales data. It doesn’t matter if you are the sole investor of your business, if you have partners, or investors, taking time to evaluate your past, current and future growth are essential for your survival.

Using Tableau can help you to compile data from a variety of sources into a single visualization to help better understand how your business is performing. These five ways are applicable to any size business, whether you have 10 rows or 10,000 rows and columns of data, reviewing your sales can be simplified with tableau.

  1. Sales Performance. Each quarter, you can measure sales performance against your projections and the previous quarter’s sales. Tableau has a variety of visualization types and will automatically select a visualization such as a bar chart or line chart to reflect changes in data over the period of time you select.
  2. Target Audience and Market Segment. Are you spending money on advertising? Do you know if you are having a return on your spend and if so, where it is coming from or which area is performing best? See and understand your data around campaign performance, customer activity, and website engagement. Combine your marketing automation data into visualizations to uncover what tactics are converting and what messages are falling short.
  3. Sales Quota. How are your salespeople performing? With Tableau, you can pull data from LinkedIn Sales Navigator and other sales tools to drill down to determine how your salespeople are performing in comparison to their quota.
  4. Segmentation. Tableau offers many templates including a sales analytic dashboard. This dashboard can help you to understand who is buying your products and what products they are buying.  Gain insight into if products have any seasonality, geographic preferences, and what stage they may be falling in such as growth, maturity, or decline. Understanding and evaluating this information can help you to maximize your marketing spend and customer engagement programs.
  5. Sales Growth. Creating a sales growth dashboard can help you understand how your business is performing year-on-year, quarter-on-quarter, and then drill down further to see how your sales reps activity contributes to your overall growth. You can drill down by region, subregion, segment, product, clients, dates, and salesperson.

Tableau offers many different templates to help you make important decisions for your business.  As a great leader, it’s your role to set the vision for your business, however, unless you know what is happening in your business, it can be hard to set the course. As Jack Welch famously said “ “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” Creating effective dashboards from a compilation of your data sources can help you to articulate and own your vision. Sharing your visualizations can help you drive it to completion. There is no limit to the size of the business, using tableau for small business can help better position your business for scale.

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