This repository contains the completed project for the Business Data Management (BDM) subject at IIT-Madras. The objective of this project was to apply data management and analysis techniques to address the challenges faced by a business owner.
The project focused on analyzing the sales and expenditure data of Bansal Kirana Store, a medium-sized kirana store. The key challenges identified were related to profitability and inventory management. The goal was to gain insights from the data and provide recommendations to improve the store's financial performance and optimize inventory.
Primary data was collected from Bansal Kirana Store, including sales data, purchase data, and inventory data, over a period of 31 days. The collected data was then cleaned to ensure accuracy and consistency. Data pre-processing tasks, such as imputation and error correction, were performed to ensure reliable analysis.
The cleaned data was analyzed using Microsoft Excel, Tableau. Various analysis techniques, such as volume analysis, profit/loss analysis, inventory analysis, and fixed cost analysis, were applied to uncover patterns, trends, and insights. The analysis involved calculating revenue, profit/loss, inventory levels, and fixed costs for different SKUs (stock-keeping units) of the store.
The analysis provided valuable insights into the store's financial performance and inventory management. Key findings included the identification of high-profit items (such as Dry Fruits & Ghee) and the impact of restocking decisions on profitability. Based on the analysis, several recommendations were formulated, including increasing the sales of high-profit items, restocking inventory earlier or during high sales periods, and enhancing the sales of Milk products. Additional recommendations focused on improving the current ratio and implementing effective pricing strategies and store display enhancements.
In conclusion, this project demonstrated the application of data management and analysis techniques to address real-world business challenges. By leveraging the power of data, valuable insights were derived, leading to actionable recommendations for Bansal Kirana Store. The recommendations aim to enhance profitability, optimize inventory management, and improve overall financial performance. It is important for the store owner to continuously monitor and evaluate the implemented strategies, making necessary adjustments for long-term growth and success.
- Code: This directory contains the Excel spreadsheet used for data analysis and the Python code used for data cleaning and preprocessing. (Python code will be uploaded soom)
- Data: This directory contains the raw data collected from Bansal Kirana Store, as well as the cleaned and processed data used for analysis.
- Presentation: This directory contains the PowerPoint presentation slides summarizing the analysis, findings, and recommendations. (will be uploaded soom)
Future work on this project could involve tracking the implementation of the recommendations and monitoring the impact on the store's financial performance over a longer period. Additionally, advanced data analysis techniques, such as predictive modeling and forecasting, could be applied to further optimize inventory management and predict sales trends.
For any inquiries or additional information about this project, please feel free to contact:
- Project Team: Kartik Valecha
We appreciate your interest in this project and look forward to any feedback or collaboration opportunities.