Market Factors
Change
Best Practices Overview
Analyzing Sales Data for Better Decisions
Analysis Framework
Consumer Feedback
Key Performance Indicators in BI
Dependencies
Key Considerations in Predictive Analytics 
Key
factors affecting data quality include: Accuracy: Data must accurately represent the real-world scenarios it aims to model
...External Data Data sourced from outside the organization, such as
market research, social media, and public databases
...
Resource Changing
Market Conditions: Rapid changes in the market can affect resource needs and allocation
...Human
Factors: Employee turnover and skill gaps can impact resource management
...
Change business analytics and big data, "change" refers to the transformation processes that organizations undergo to adapt to new
market conditions, technologies, and consumer behaviors
...successfully managing change through data analytics: Identify the Need for Change: Recognize the internal and external
factors necessitating change
...
Best Practices Overview This could include improving customer retention, optimizing inventory levels, or enhancing
marketing strategies
...Consider
factors such as: User-friendliness and accessibility
...
Analyzing Sales Data for Better Decisions Analyzing sales data allows organizations to understand their
market better, optimize their sales strategies, and improve overall performance
...Identifies key
factors influencing sales trends
...
Analysis Framework sources, which may include: Internal Sources: Company databases, CRM systems, financial records External Sources:
Market research, social media, public datasets Effective data collection ensures that the data is accurate, relevant, and sufficient for analysis
...Business strategy development, project planning PEST Analysis Analyzes external
factors (Political, Economic, Social, and Technological) that can impact a business
...
Consumer Feedback Market Trends: Analyzing feedback can reveal emerging trends and customer preferences
...collection and analysis: Response Bias: Consumers may provide feedback that is not entirely honest, influenced by various
factors ...
Key Performance Indicators in BI of Key Performance Indicators Key Performance Indicators are quantifiable measurements that reflect the critical success
factors of an organization
...Strategic KPIs Long-term metrics aligned with broader business goals, such as
market share growth
...
Dependencies Making: By analyzing dependencies, businesses can make informed decisions that consider the interrelationships between various
factors ...Identifying relationships between sales and
marketing efforts
...
Interactions Making: By understanding how different variables interact, businesses can make more informed decisions that consider multiple
factors simultaneously
...Targeted
Marketing: Analyzing interactions can lead to more effective marketing strategies by identifying how different customer segments respond to various marketing efforts
...
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