From the course: Introduction to Business Analytics (2020)

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Key sales metrics

Key sales metrics

From the course: Introduction to Business Analytics (2020)

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Key sales metrics

- Total dollar amount of sales is by far the most important metric in terms of sales analytics. This is the big key performance indicator but total sales dollars alone will not offer you much in ways of rich insights. Tracking sales effectively involves you tracking the most important dimensions of total sales dollar sold. Which dimensions are important, really depend on the decisions you are trying to better inform. These decisions can be broken down into what, when, where, how and why. Let's take a look at the metrics that can help you answer these questions about your sales. First, let's focus on what. To answer this question, I would prioritize tracking which products are being sold and breaking them down into categories or assortments. This is especially important if you have very different lines of business. For example, one of my clients has sold hardware but varying different types of hardware. Screws…

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