Finance Dashboard: Credit card Transaction and Customer Analysis

Introducing the Credit Card Financial Dashboard project built with Power BI, designed to offer stakeholders real-time insights into credit card transactions and financial data. This dashboard supports informed decision-making and enhances strategic planning.

##Project Objective: To create a detailed weekly credit card dashboard that delivers real-time insights into key performance indicators(KPI's) and trends, allowing stakeholders to effectively track and evaluate credit card operations.

##Steps:

1. Data import from PostgreSQL
2. Data cleaning/processing & DAX
3. Dashboard & Insights

##Dashboard:

##Key Insights:

1. Credit Card Transaction Analysis:

   1.Quarterly Trends:

   Q4 has the highest revenue, reaching $14.5M, followed by Q3 with $14M. The lowest revenue is recorded in Q1, where it stands at $13M. The number of transactions is highest in Q3 and Q4, correlating with the higher revenue.

   2.Top Expenditure Categories:

   Bills are the largest revenue driver, generating $14M, followed by Entertainment with $12M, and Fuel with $10.8M. These categories show consistent performance across all quarters, but Bills remain the leading contributor each time.

   3.Credit Card Type Analysis:

   Platinum Cards generate the most revenue, contributing $20M, followed by Gold Cards with $16M. The least profitable category is Silver Cards, contributing $5M in total, suggesting a need for potential reevaluation of customer targeting or benefits for this tier.

   4.Interest Revenue:

   The total interest earned amounts to $8M, with the Platinum Card holders contributing the majority of it, while Blue Card holders generate the least interest revenue.

2. Credit Card Customer Report:

   1.Customer Age Group Breakdown:

   The 40-50 age group generates the highest revenue, contributing $14M, followed by the 30-40 age group at $12M. This suggests that middle-aged customers are more likely to have higher expenditures, possibly due to their higher financial stability.

   2.Top States by Revenue:

   Texas (TX) generates the highest revenue, with $20M, followed by California (CA) with $17M, and New York (NY) with $15M. This data suggests that credit card usage and spending habits are heavily concentrated in these states, which might be due to population density and income levels.

   3.Demographic Insights:

   Married customers generate higher revenue compared to single customers, particularly those with 2 or more dependents. Male customers contribute more revenue than female customers, which might indicate differences in spending behavior based on gender. The 40-50 age group has the highest transaction volume and revenue, aligning with the expenditure data from the previous analysis.

   4.Education Level Impact:

   Customers with a bachelor's degree contribute the most to revenue, followed closely by those with master’s degrees. Lower levels of education, such as high school graduates, contribute significantly less, suggesting that higher education correlates with higher spending power.

   5.Income Level:

   The highest revenue comes from customers earning $80K+ annually. These high-income customers drive around 50% of the total revenue, confirming the direct link between income and spending capacity. Customers earning below $40K contribute the least to total revenue, showing a smaller overall transaction volume.

##Potential Business Actions Based on Insights:

1)Tailor Credit Card Offerings by Age Group:

Target 40-50 and 30-40 age groups with promotional offers, loyalty programs, or exclusive benefits, as they are the highest revenue-generating segments.

2)Promote Platinum and Gold Cards:

Since Platinum and Gold cards generate the most revenue, focusing on increasing the acquisition of customers in these tiers could drive overall revenue. Special offers and interest rate adjustments might be beneficial for Silver Card holders to encourage more spending or upsell to higher-tier cards.

3)State-Specific Campaigns:

Launch tailored marketing campaigns in high-revenue states like Texas, California, and New York, where credit card usage and spending behavior are the strongest.

4)Interest Revenue Opportunities:

Focus on increasing interest revenue through promotions for the Platinum and Gold cardholders, such as balance transfer offers or special financing options, as they already contribute a majority of the interest revenue.

5)Income and Education Level Targeting:

Design credit card products or features targeting high-income earners (>$80K) and customers with higher education levels (bachelor’s and master’s degrees) to maximize revenue potential. Financial products like cashback rewards, travel perks, and luxury spending incentives could be especially appealing to these segments.

6)Engagement with Lower-Income Segments:

The lower-income segments, while not contributing as much, can still be tapped into by offering cards with lower credit limits, fewer fees, or cashback offers on essentials (like fuel or groceries), potentially increasing their spending.

Conclusion:

These insights from the credit card dashboard can help enhance marketing strategies, identify key customer segments, and refine credit card products to boost revenue and customer engagement. Let me know if you'd like further exploration on any specific metrics!