Financial Data Analytics

Introduction to Data Visualization Using Tableau

The report presents the insights drawn from the data visualization using tableau for the data of the online music sales store. The objective of the activity was to determine whether online music sales store should expand the business or not. To address this problem the data of online music sales stores for the period 2008 to 2012 was analyzed to draw meaningful insights and guide the management in making proper marketing strategies and decisions.

Most Popular Genre

One of the ways to find a solution to this problem was which genre sold to most customers in the given market (Europe and Asia). This has been visualized in the tableau using a horizontal bar chart(see Appendix 1). According to visualization, we found that the Rock genre sold the most to companies' customers in the given market. In Europe, it was 1,217 units of a quantity of Rock genre sold and in Asia, it was 67 units. So the company can focus on this genre to expand their business.

Top 20 Artists 

From the previous visualization, we found that the rock genre was popular and it was required to determine which artists sold the most with information on whether artists produce tracks on only one genre or if they have music across multiple genres. This was visualized by plotting horizontal bars between Artists and quantity (see Appendix 2). From the visualization, we found that many artists sold the most with different genres.

Sales Distribution by Region

To know the region-wise variation in selling pattern a new calculated field sales column was added and the percentage of sales in each region was derived. Treemaps(see Appendix 3) were used to visualize this. From the visualization, we can found that the USA(23.02%) was having maximum sales followed by Canada(12.83%).

Sales by Geography

Furthermore, As companies need to expand their sales in different countries it was necessary to know how the sales look like in the countries the company currently serving. This was visualized using Maps with colour pallets(see Appendix 4). Again the sale amount was used to compare sales in different countries. From the map, we could able to see the geographical distribution of sales

Sales trend Rocks vs Alt & Metal

The final aspect considered to address the problem was how the sales trend of Rock and Alternative & heavy metal tracks look like. This was visualized by line graphs(see Appendix 5) using the invoice date and sales. The performance of sales by months was compared for both the genres and the trend line was fitted. From the graph, we could able to see both the genres performing more or less the same and having a constant trend in sales over the month. However, the number of sales was more in the case of the Rock genre compared to Alternative & heavy metal tracks.

These visualizations helped to understand genre and artists with more customer base, geographical and region-wise distribution of sales, and also sales trends of different genres. A dashboard was developed to view the entire results at a single place(see Appendix6). This dashboard can be presented to the management to see the status of the business and the understandings from the dashboard can be used to derive solutions to the business problem by identifying customer base, market share, underserved market and thereby deriving appropriate sales strategy.

Conclusion on Data Visualization Using Tableau

In this era of data-driven technology and decision making visualization and analytics are changing the landscape of many industries. Online music sales store is one such industry where generating, collecting, analyzing, and visualizing data will give insights into understanding customer behaviour and other aspects of market research. Moving forward, the music industry can realize their strength, opportunities, and limits using data-driven techniques and improve their business.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Accounting and Finance Assignment Help

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