To use the vast amounts of internal information to make more informed decisionsJOB PROFILE: DATA ANALYST
PURPOSE OF THE JOB
- To use the vast amounts of internal information to make more informed decisions and to support strategy formulation in areas such as pricing, stock management and procurement policies
- To ensure that product pricing achieves the best possible margin and desired profitability (using data analytics) by respective sales channel and considering elasticity of demand and other relevant attributes, whilst ensuring that same is competitive within the market
- To ensure pricing optimization across the business to minimize variability and over discounting.
REQUIREMENTS
- BCom (Data science, Computational and Applied Maths, Economic Science, Mathematical Statistics) or BSc (Computational and Applied Maths, Mathematics) or similar
- Minimum 3 years' experience in a similar role involving pricing (retail preferable) and / or financial analysis
- Must have the ability to think analytically with commercial acumen
- Must enjoy working with numbers, statistics, forecast modelling and problem solving
- Knowledge of applicable data analytics software/tools
KEY PERFORMANCE AREAS WEIGHTING
- Conduct undirected research and frame open-ended business questions
- Extract large volumes of data from multiple internal and external sources
- Employ sophisticated analytics programs, machine learning and statistical methods to prepare data for use in predictive and prescriptive modelling
- Thoroughly clean and prune data to discard irrelevant information
- Explore and examine data from a variety of angles to determine hidden weaknesses, trends and/or opportunities
- Devise data-driven solutions to the most pressing business challenges
- Invent new algorithms to solve problems and build new tools to automate work
- Communicate predictions and findings to management and IT departments through effective data visualizations and reports
- Recommend cost-effective changes to existing procedures and strategies
- Analysing pricing of products and categories in order to develop appropriate pricing strategies and plans
2
- Use analysis and mathematical modelling tools in order to develop and support pricing strategies
- Develop appropriate models to measure elasticity of demand by sales channel to support pricing decisions
- Manage and monitor price overrides to understand the reasons to support higher levels of control
- Track trends and exceptions to formulate pricing methodologies, internally and against the market in order to improve desired profitability whilst staying within consumer expectations
- Prepare pricing recommendations and present same to executive team
- Identify new opportunities to optimize sales and profitability through pricing or other strategies
- Monitor different categories, highlighting optimal products wher