Written by Nils R. | Mar 12, 2021 8:00:00 AM
What is a
Product Sales Revenue Dashboard
? Product Sales Revenue Dashboards are considered sales monitoring tools and are used by product and retail managers to analyze trends and variances related to product sales. Some of the main functionality in this type of dashboard is that it provides KPIs and graphical analysis from these perspectives: 1) Sales per product and product group with comparison to the budget and last year, 2) Monthly trend in total sales with comparison to budget and actual last year, 3) Total actual sales, budgeted sales, and last year's sales, and 4) Actual current year percent variance to budget and last year. The filter in the top left corner enables the user to zoom in on specific data ranges. You find an example of this type of dashboard below.
Purpose of
Product Sales Dashboards Retail organizations use Product Sales Dashboards to give their managers an easy way to quickly analyze detailed and overall item sales and variances to budgets/forecasts and historical months. When used as part of good business practices in Financial Planning & Analysis (FP&A) and product/sales departments, an organization can improve and speed up its product strategies and related sales, and it can reduce the chances that managers miss important item trends and exceptions that can affect retail revenues.
Product Sales Dashboard
Example Here is an example of a Product Sales Dashboard with variances and trend analysis. [caption id="" align="alignnone" width="2233"]
Example of a Product Sales Revenue Dashboard for Retail Companies[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: Finance officers, analysts, product managers, purchasing managers, marketing officers, store managers.
Other Reports Often Used in Conjunction with
Product Sales Dashboards Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Product Sales Dashboards, along with financial dashboards, profit & loss reports, sales reports, inventory reports, sales forecast, annual budgets and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
