In this blog, we’ll be highlighting some issues that Brand & Sales teams face with data on a daily basis, and making a case for how data consolidation can remedy these core issues:
So Many Data Sources, So Little Time
Brand & Sales teams deal with so many different datasets at a time: there’s primary sales, secondary sales, MS Value, Media Spends, Research Data from Kantar, Nielsen, or IQVIA, depending on the industry; and more.
To manage the plethora of data, professionals mainly use Excel. The research we conducted at vPhrase, interviewing 100+ experienced industry professionals, validated many of our hypotheses when we initially started out developing Explorazor, the data exploration tool designed especially for frictionless data exploration. Some of these hypotheses were:
- Managers use Excel by default – without any additional support
Excel has become one of the constants of life – all operations are conducted on Excel, without any other tool to even support or augment it. Power BI does extend some value, but it’s meant for dashboards and not exploration.
To think of replacing Excel was not even in the minds of the professionals we interviewed.
- Excel is great – but it does pose some problems
For what man, walking the face of this earth, can deny Excel’s greatness? Shakespearean passions aside, Excel is THE standard for a reason – it facilitates data analysis, holds enormous datasets, enables pivot extraction, conditional formatting and n other functions.
However, we believe that there is an easier way for Brand Managers to conduct data exploration and analysis, without leaving Excel entirely.
As such, we spoke about it with Senior Managers – they agreed that while Excel is the go-to for all number crunching, insight extraction and strategy formation, having to work on multiple datasets means more time consumption and manual work. Laptops process data slowly as compared to a cloud server, which also contributes to time consumption. Furthermore, due to fragmented data storage, managers often have to rely on Insights teams for ad-hoc analysis and crucial insights, something they would rather prefer to live without.
After validating both our hypotheses, we presented Explorazor to our audience – and asked them to gauge one central benefit that Explorazor provides:
Data Consolidation – The Answer To Many of Excel’s Drawbacks
Explorazor is a data exploration tool that lets users conduct queries, obtain data pivots, and conduct root cause analysis via point-and-click, on an INTEGRATED, CONSOLIDATED dataset. There are various industry terminologies going around, like data stitching, data consolidation, unifying datasets, combining datasets, etc., all refer to the same thing. The Explorazor team cleans, standardizes, and combines the datasets for a single-platform usage through Explorazor.
A clarification here: Explorazor complements Excel, and does not replace it.
An Integrated or Consolidated Dataset Means
- Better correlation between data points
Your primary sales is doing good, but your call average has actually been declining since COVID. Such data correlation is easily obtained on platforms like Explorazor.
Similarly, Dolo made huge sales during the pandemic, but it actually sold more due to HCP recommendations and ad campaigns, rather than calling and field sales efforts. Now that the pandemic has receded, it comes to light that the rural areas have largely been ignored and a sizable chunk of sales comes only from select urban areas.
Such data exploration and correlation is much easier on an integrated dataset.
- Better root cause analysis
We’ve written a separate blog just covering this point. Explorazor helps users arrive at the ACTUAL root cause of events, because users can conduct drill-down and drill-across on the entire data at a time.
It’s all about better decision-making.
- Time and Effort Efficiency
Managers spend more time testing hypotheses and conducting ad-hoc analysis independently, without having to revert to Insights Teams. Explorazor lightens the laptop burden of processing huge datasets by storing data on server, accessible via browser.
An Integrated or Consolidated Dataset Also Means
- Faster analysis, faster laptops
- Better, and easier analysis
- Greater Independence for Brand Managers
- Greater space for Insights Teams to focus on long-term strategies
- A space for users have ready access to required datasets
- A space for users to collaborate on projects
- A data-driven work culture
- Greater revenue
Take an Interactive Product tour of Explorazor!