From the course: Introduction to Business Analytics (2020)
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Sales data
- Sales data is very important. When you're making sales, you're collecting data, and the amount of data available from just a few hundred sales can tell you a lot about who, what, where, and how your sales are occurring. This is important because when you have this data, it's so much easier to retarget your existing customer base than target new customers in markets that you don't really understand. The idea here is that you want to accentuate your positive trends. The fact is, when you're making a sale, your customer is voting with their dollar, and you know what, you really, really should listen. Now, there is a chance that you fully penetrated the market on your biggest trend, and in order to grow you're going to have to find some new plan of action. What I'm saying is that in uncovering sales trends, this affords you some priority in your decision making process. Understand where things are going well and try to grow…
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