US Honey Production, Demand, and How to Maximize Sales

Project Overview

In this project, we dive into U.S. honey production trends from 1995 to 2021 using the USDA Honey Production dataset. We wanted to explore how honey production, prices, and colony yields have changed over time and figure out the best ways for honey farmers to maximize their profits. Using Power BI, we created interactive dashboards to visualize key trends and provide actionable insights. By the end of the analysis, we even came up with a cool metric to help identify the most profitable states for honey production.

Dataset Information

• Source: USDA Honey Production Dataset (1995 - 2021)
• What’s in the dataset:
  • Colonies_number: The number of honey-producing colonies.
  • Yield_per_colony: How much honey each colony produces (in pounds).
  • Production: Total honey production (in pounds).
  • Stocks: How much honey is stored (in pounds).
  • Average_price: The average price of honey per pound (in cents).
  • Value_of_production: The total value of honey produced each year.
  • Year: The year the data is from (1995 to 2021).
  • State: The U.S. state the data is from.

Key Insights

1. Honey Prices Are Skyrocketing: Since 1995, the price of honey has tripled, showing that demand is going up. Even after accounting for inflation, prices have increased by 87%.
2. Production Is Slowing Down: Despite rising prices, honey production and colony yields are decreasing, which might be a sign of supply issues.
3. Some States Are Better Than Others: States like North Dakota and South Dakota have produced a ton of honey over the years, while places like Oklahoma have remained low producers.
4. Best States for Honey Farmers: We created a new metric called "Average Monetary Yield from One Colony." It combines honey yield and price to find the best states for honey production. Spoiler: Virginia is a great spot for honey farming!

Visualizations and Dashboards

With Power BI, we built some helpful dashboards to show:

• Overall Trends: A look at how prices, production, and honey stocks have changed nationwide.
• State-Level Trends: A breakdown of how each state has performed in honey production and yield over time.
• Prescriptive Analysis: A dashboard that shows the best states to maximize honey farming profits based on our new metric.

Skills Used in This Project

• Data Analysis: Cleaned up the dataset and ran some detailed analysis in Power BI.
• Data Visualization: Created intuitive and interactive dashboards to tell a clear story.
• Prescriptive Analytics: Developed new metrics to help honey farmers figure out where to maximize their profits.
• Storytelling with Data: We turned all this analysis into a clear narrative to explain what’s going on with honey production and how farmers can take advantage.

How to Run the Project

If you want to check out the Power BI dashboards yourself, here's how you can do it:

1. Clone the repository:

   git clone https://github.com/vaishnavisamboji/US-Honey-Production-Data-Visualization.git

2. Download Power BI Desktop: If you don’t have it yet, grab it from Power BI Desktop.

3. Open the Power BI file:

   • Look for the .pbix file in the repository and open it with Power BI Desktop.
   • Explore the interactive dashboards to see all the insights for yourself.

4. Play around with the dashboards:

   • Use the filters to explore trends by state, year, and different production metrics.
   • Check out the prescriptive analysis to see the best states for honey farming.