RGV INC RGV Ine. has recognized that the company’s profit margins are declining. In order to make a better analysis and make recommendations we probably need more information as to why there is a decrease in profit margins. However, taking in consideration that the reasons for the current situation may be internal as well as external, we must conduct data analysis. We can begin by researching the historic trend analysis combined with a market survey. This would allow us to have data that is more concrete. Certainly, this will be advantageous to achieve our goal It is important to determine a time frame to analyze the data collected. A good method is to uuse monthly reports of sales. This will emphasize and expedite the data collection to have a visual representation of when the profit margins are declining and with further data collection determine the reasons why. The key stakeholders that are crucial in this analysis are the managers of RGV Ine as they have initiated the effort to reduce the cost and increase profits. However, employees are also key stakeholders in the organization, which will definitely play an important role in making data driven, decisions to improve profits for this organization. We need to be aware that the profitability of the organization affects the overall wages. As you make all key stakeholders accountable for the benefit of the company, you are asking employees to buy in for their personal benefits as well. If the company does well, the employees will get compensated as well In being more specific for data collection, we can use questionnaires and surveys. Determining the product that is more profitable as opposed to the one that is less profitable will give a better idea of what products need to be considered to improve and which products need to be perhaps, even eliminated if the profit is not being met. We must also consider a further analysison quantitative data which gives us information directly related to numbers. This method allows us to make the data driven decisions necessary for improvement. However, we must take in consideration the implementation of qualitative data as well to be more thorough. This type of data is collected through questionnaires, interviews, and/or observations. The quality is just as important as the quantity. Knowing that the product not only meets, but exceeds the customers satisfaction will tun to be a profit in the quantitative aspect, hence more profit for the company. All this data needs to be gathered and stored appropriately. More so, it needs to be documented in a way that is easy to read and easily viewed by all key stakeholders. Collecting the data and entering the data appropriately allows data decisions to be effective and quick. A good way to document the data is through graphs and/or charts, ‘There are programs in Excel that can help you with this type of data collection. These allow the data to be ongoing and all the information required is placed in one place. We are able to determine the time frame, the product, the price, the margin and so much more data that is erucial for the growth of the company. Programs In order to effectively collect all this data, we need to have our goals clear and always refer back to our initial KPIs and recap on the KPQ to reach our goals. One of the questions we ask include duration for which trends needs to be displayed in the report. From what source is, the data being extracted and a point of contact for different subject areas ( Sales, Marketing, Support etc). If we have this in mind, we can make effective data driven decisions. One of the other things that can be analyzed through data is based on the key stakeholder’s performance, We ean gather information as to what salesperson has the most sales for the month (which is the time frame previously established). If we enter this data in aseparate chart, it will also give us feedback to know where the employees stand. This will also give us ideas to analyze their strategies to be top sellers and share that with other employees. As a result of this data collection and to increase profits, programs can be established to increase profit margins. We can implement incentives and other benefits for increased sales. When the company earns profits, the employees can be given promotions, pay raises, or even bonuses and the fa ies will subsequently improve What we have done throughout this breakdown has practically been the incorporation of a business process improvement or BPI, which refers to a methodology, used to maximize a company’s operations and position it for sustained success. These five basic steps are implemented simultaneously: Define. Analyze. Redesign. Implement. Monitor. As the company works together, the company will be up float. In conclusion, in order to increase the profit margin, we are looking at the products with most sales based on the data collected. These products will have priority to be increased in production. We will remove unprofitable products. We will gather techniques from the top sales people and ask them to share their knowledge to other employees to improve the production and the sale of the product. We will offer incentives for better salesperson’s performance, which ‘will in turn increase profit margins and we will utilize staff more effectively. To continue developing data strategies we will consider data management teams to monitor further improvements.