Background
Around 11 years ago I joined a client seeking help to understand why they were falling short of their shipping and handling revenue targets. This revenue was to offset the expenses related to packing and shipping client orders. With access to their sales and invoice data, carrier expenses, and shipping app logic, we discovered a significant discrepancy. The client estimated $2.5 million in annual revenue for shipping and handling fees, but their actual expenses were $2 million. A swing of over $4 million!
The data analysis itself wasn’t too challenging, but obtaining access to all the necessary data proved difficult. We faced additional hurdles in combining the data to analyze the shipping and handling fees and identify issues with the carrier routing and expense calculation app. By linking this information to customer orders and invoices, we uncovered the root cause.
Long story short, the company’s individual employees were responsible for the $4+ million swing. They often discounted or waived shipping and handling fees to stay competitive, in some cases this behavior influenced sales commissions and bonuses. Additionally, they had the authority to override the company’s app recommendations, resulting in increased carrier shipping costs. Although employees were trying to meet client expectations, their actions negatively impacted the company’s bottom line.
We shared the overall findings with the CFO and offered more detailed analysis by location and employee, highlighting those with the most discounts and overrides. This information benefited the company in three ways: providing transparency into shipping and handling fees and carrier costs, uncovering scenarios where fee structure or the carrier app needed adjustment, and updating policies to incentivize proper behavior when selling to clients.
What matters is that someone had a goal/need/challenge, and we were there to help out. We leveraged their own data to uncover the root cause, and they loved the fact that they got much more than 10X the value compared to what they were charged for the project.
Why Now?
So, what does this story have to do with the launch of my consulting company? After 12 years of consulting across various industries and working in audit, finance, and retail analytics teams, I yearned to return to what got me started on this journey: helping people achieve their business goals through data. With my diverse skill set and deep industry knowledge, I can serve as a trusted advisor, offering valuable insights to help businesses “elevate their results."
In today’s data-driven world, businesses recognize the value of leveraging existing resources and data to enhance their bottom line and make strategic decisions. As the owner of a new analytics consulting company, I am thrilled to embark on this journey, assisting businesses in achieving their goals by harnessing the power of data. In the remainder of this blog post, I’ll outline the key aspects of starting my analytics consulting company and how I aim to unlock businesses’ true potential.
How Can We Help?
As an analytics consultant, my primary objective is to help business owners achieve their personal and corporate goals. One of the most rewarding aspects of starting my consulting company is the opportunity to learn the unique stories, challenges, aspirations, and growth trajectories of each business. By actively listening to owners and founders, I can gain a deep understanding of their vision and align my services to best support their journey, fostering trust and long-term partnerships.
Who Do We Serve and What Can We Do?
While I have experience across multiple industries, I am currently best equipped to assist in the following areas:
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Energizing Health and Fitness Businesses: Empowering health and fitness establishments through comprehensive analytics solutions that optimize member engagement, maximize facility usage, and unlock personalized fitness programs, ultimately enhancing operational efficiency and fostering member loyalty. I have had many friends work within the industry, as well as owning their own gym and fitness facility. I have always been drawn to the energy and purpose in this industry, as well as the focus on people.
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Transforming Franchise Businesses: Propelling franchise enterprises to new heights by leveraging data analytics to assess performance, identify expansion opportunities, and standardize operations across multiple locations, bolstering profitability and ensuring consistency. Many franchisees are just getting started, or have started and they are small operations, and do not have the resources of larger franchise companies.
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Revitalizing Retail Businesses: Unleashing the full potential of retail enterprises by deciphering customer behavior, optimizing inventory management, and implementing data-driven marketing strategies to drive sales and elevate customer satisfaction. While we have the most experience in the home improvement retail market, we have the ability to pivot and serve other retail niches.
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Igniting Success in Financial Services: Illuminating the path to prosperity for financial services businesses through data analytics that bolster risk management strategies, refine investment analysis, and unlock new revenue streams. With over a decade of experience in the financial services industry, we feel well equipped to meet the challenges in this area.
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Hospitality and Tourism: Unlocking the potential of the hospitality and tourism industry through data analysis that enhances customer experiences, optimizes pricing strategies, and enables accurate demand forecasting, enabling businesses to thrive in the competitive market. Most of our experience in this area comes from the hotel and casino niches. These clients are always eye opening as the results of our work usually end up being very tangible to the everyday customer.
It’s important to note what we don’t do. We are not accountants, auditors, IT/Tech Support, or “report factories.” While our deliverables may include reports, dashboards, or apps, our objective is to help you achieve your goals and level up your business, not just monitor everyday activities. We recommend other services for accounting, financial reporting, and monitoring basic success metrics tailored to your company’s needs.
How Do We Deliver?
To deliver comprehensive solutions tailored to each client’s unique needs, we combine open-source tools like R and Python with major software providers such as Tableau, Power BI, and Qlik. This blend offers flexibility, cost-effectiveness, customization options, robust features, and user-friendly interfaces
Conclusion
Starting this analytics consulting company is a win-win scenario. We can help businesses elevate their performance and achieve their goals, while finding satisfaction in helping others through data. As the owner of this consulting firm, we have the flexibility to tailor my services to your company’s unique story and goals.
If you’re interested in elevating your results and crushing your goals, join me on this transformative journey as we harness the power of data. Click the “Apply Now” button to get started! Don’t forget to bookmark our blog to stay updated with our content. Together, let’s unlock the potential of your business!
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