This analysis aims to understand the day a particular product showcases its best performance in one specific location.
The best-selling days for a business can vary depending on the industry and target market.
The customer base is one of the essential factors in determining the best-selling days. For example, a business that primarily serves working professionals may find that the best-selling days are on weekdays when customers have disposable income and can make purchases during their lunch breaks or after work. On the other hand, a business that primarily serves families with young children may find that the weekends are the best-selling days when parents have more time to shop and are looking for activities to do with their kids.
Another factor to consider is the type of products or services being sold. Some businesses, such as those in the retail or hospitality industries, may experience increased sales during holiday seasons or special events like Black Friday or Valentine’s Day. Other businesses, such as those in the fitness or wellness industries, may see an increase in sales during the start of the new year when people are looking to make healthy changes to their lifestyles.
Overall, the best-selling days for a business will depend on various factors, including the customer base, the type of products or services sold, and any seasonal or special events that may influence purchasing decisions. By considering these factors, businesses can plan their sales strategies and optimize their efforts to maximize revenue.
The question remains: How can we use data to understand the best-selling day? Any thoughts?
Let’s go into PowerBI to turn this idea into reality.
As we all know, the best performance is relative. I’m assuming my best performance is the day the average sales are the highest, i.e. if the average sales are highest on Tuesday for product A at Location B., Then Tuesday is my best-selling day for that product in that location.
Based on my assumption, I need to calculate my average sales.
The DAX to calculate the best-selling days is as seen below.
Suppose I include this measure in a table. My best-selling day for Brittle is a Sunday in California.
Similar to another region, Colorado. The best-selling day for Brittle is Friday.
We can see that the same products but two different regions have different best-selling days.
How does the measure work?
That’s one layer of product analytics you can use to drive impact in your organization. See you next time.