Addressing a Negative Closing Ratio
Client wanted to determine their pricing sweet-spot on their core product lines along with insight around their quoting lifecycle: won vs. lost quotes. The objective was to create an end-to-end solution prototype consisting of database integration with front-end delivery. Our analysts loaded a Teradata database and, using Tableau, began to compare operational performance against KPIs the analysts established.
In comparing “closing ratio percentage” against the year, quarter, market and sales region, our analysts discovered that one sales region had a significantly lower ratio than the others. After combining the “aggregate average price” with “quote status” at the year, quarter and product level it became evident that some products were priced too high in that region. After lowering pricing for specific products in that region their closing ratio percentage dramatically improved.
Tools Used: Teradata Database, Tableau