How to find gross margin?

Gross margin is a critical financial metric that shows the percentage of revenue remaining after deducting the cost of goods sold. Understanding your gross margin helps in evaluating the efficiency of your production processes and pricing strategies. It is a key indicator of your business's profitability and financial performance.

Tips to find gross margin

Here are some tips to consider when you’re trying to find gross margin:

1. Accurately Calculate COGS: Ensure accurate calculation of the cost of goods sold (COGS) to determine gross margin correctly.

2. Monitor Regularly: Regularly review gross margins to track profitability and identify areas for cost reduction.

3. Analyze Variances: Investigate significant variances in gross margin to understand their causes and take corrective actions.

Use Narrative BI to find gross margin

Narrative BI is a generative analytics platform that automatically turns your data into actionable data narratives. To find gross margin with Narrative BI, follow the steps below:

  • Connect your data source directly to Narrative BI or upload a spreadsheet to the AI Data Analyst tool.
  • Explore the feed of automatically generated insights.
  • Ask questions to uncover strategies and actions to find gross margin.
  • Get AI-generated answers, automated reports, and insights.
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Suggested questions to ask AI Data Analyst to find gross margin

AI Data Analyst from Narrative BI is an advanced Generative Business Intelligence tool that leverages AI to provide actionable insights from your data. It allows you to upload spreadsheets or directly connect various data sources, ask questions using natural language queries, and get actionable answers. You can use the following AI Data Analyst prompts to find gross margin:

What is the gross margin for each of our product categories?

How do changes in production costs impact our gross margin?

Which products have the highest and lowest gross margins?

How does our gross margin vary across different sales channels?

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