Primary Data
Forecasting Customer Demand
Metrics
Market Strategy
Business Metrics
Trend Reporting
Text Analytics
Financial Planning
Market Analysis 
The
primary goal is to gather actionable insights that can guide strategic planning and decision-making
...Market Forecasting The prediction of future market conditions based on historical
data and analysis
...
Forecasting Customer Demand Overview Demand forecasting is the process of estimating future customer demand for a product or service based on historical
data, market trends, and other relevant factors
...Methods of Forecasting Customer Demand There are two
primary categories of demand forecasting methods: qualitative and quantitative
...
Metrics They play a crucial role in business analytics, particularly in the context of prescriptive analytics, where
data-driven decision-making is essential for optimizing outcomes and achieving strategic objectives
...The following table summarizes the
primary types of metrics used in business: Type of Metric Description Operational Metrics Measures the efficiency and effectiveness of day-to-day operations
...
Market Strategy It involves collecting
data to understand consumer needs, preferences, and behaviors
...There are two
primary types of market research: Type Description Primary Research Data collected directly from the source through surveys, interviews, and focus groups
...
Business Metrics These metrics are essential for understanding various aspects of business operations, enabling companies to make
data-driven decisions and optimize their strategies
...Below are the
primary categories of business metrics: Financial Metrics Revenue Net Profit Margin Return on Investment (ROI) Operating Cash Flow Operational Metrics Inventory Turnover Order
...
Trend Reporting reporting is a key component of business analytics that focuses on identifying and analyzing patterns over time within various
datasets
...The
primary goal of trend reporting is to facilitate strategic decision-making by providing stakeholders with actionable insights
...
Text Analytics (K)
Text Analytics, also known as Text Mining, is a subfield of
data analytics that involves the process of deriving meaningful information from unstructured text data
...The
primary goal is to convert unstructured data into structured data that can be analyzed quantitatively
...
Financial Planning It is an essential part of business analytics and
data analysis, helping organizations make informed decisions about their financial future
...The
primary objectives of financial planning are: To ensure the availability of funds when needed To optimize the use of financial resources To minimize financial risks To achieve long-term financial stability Key Components of Financial Planning The financial planning process typically
...
Creating Competitive Advantage with BI refers to the technologies, applications, and practices for the collection, integration, analysis, and presentation of business
data ...The
primary goal of BI is to support better business decision-making
...
Predictive Models in E-commerce Strategies Predictive models are statistical techniques that leverage historical
data to forecast future outcomes
...The
primary objective of predictive analytics in e-commerce is to improve decision-making processes through data-driven insights
...
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