This article outlines the significance of designating a 'Main Price' column and how it can be effectively used in data analysis for better decision-making.
Setting Up Multiple Columns
When working with complex datasets, you may often need to create multiple columns, each with its own formula. These columns might represent different aspects of your pricing strategy, such as base price, discounts, taxes, or additional fees. By integrating these columns into a final formula, you can generate a comprehensive pricing structure that reflects the true cost of your products or services.
Importance of the 'Main Price' Column
Once your formulas are set, it's essential to designate a primary column where the final calculated value will be displayed. This column should be labeled as the 'Main Price.'
By doing so, you ensure that your system recognizes which value to use for further analytics. This designation is critical because all subsequent calculations—such as total sum, total savings, or savings per product—will be based on the value in this column.
Benefits in Supplier Decision-Making
In scenarios where you're analyzing offers from multiple suppliers, having a clearly defined 'Main Price' column becomes even more valuable. It allows you to calculate specific costs or savings associated with each product or offer quickly. This clarity can significantly aid in decision-making, enabling you to determine which supplier provides the best value.
By carefully setting up and designating your 'Main Price' column, you ensure that your analytics are accurate, comprehensive, and useful for making informed decisions.