Let’s start with this sample from your Resume: “Successfully led the analytics and insights project before Black Friday to come up with trend analysis and customer insights for certain product categories such as books and sporting goods. This project resulted in year over year 6% increase in sales and 5% increase in profits worth $1M annually for those products.”
Question from the interviewer: How did you do that?
Follow STAR (Situation, Task, Action, Result)
1. S – Situation (1min) – What was the situation you were trying to improve?
The situation you are trying to improve is that there is no existing trend analysis or customer insights prepared for baby and sporting goods products categories for Black Friday sales event. Without this analysis the marketing and merchandising team will not be able to create promotions and target the correct products to cater correct customer segments.
2. T – Task (30 sec) – What task did you take on to improve the situation?
The task or project that you started or took upon was to create the trend analysis and from that to create valuable customer insights so that you can present those strategies to marketing and supply chain teams.
3. A – Action (3 min) – What action did you perform to complete the task?
Now this is the meaty part. There are several actions you performed in order to get the task completed. This is also your chance to show the interviewer your strategic thinking and concise organized thought process. The actions you performed were the following:
a. Collected the product sales data that included quantity of sales, geographic location of sales, promotions applied by customers, repeat customers, shipping information for the orders and order value. This was done by using sql queries and extracting data from database.
b. Collected the industry trend around those products to create year over year trends.
c. Collected the price change and new supplier data for those product categories.
d. Collected the macro economic trends i.e. the consumer buying patterns for those product categories.
The above data was put in excel and in tableau to show what type of product will have more sales with what type of promotions. Which product will sell more in which geographic location and ultimately how much the customers would be willing to spend on these product types. This was put together in a white paper and presented to the leadership.
4. R – Result (1 min) – What was the result of the action you performed?
Book types A, B, C and sporting goods D, E, F were recommended to be added to the 2-day free shipping program. There were also products like G, H that were recommended to be added to the buy one get one for 1 dollar promotions program and products I, J were recommended to be removed from east coast stores based on history of cannibalization as per the trend analysis. These strategic recommendations increased the sales of these products categories and added $1M in the year over year gross income.