Sales Performance Metrics
Identify New Business Opportunities through Data
Business Optimization
Analyze Operational Data for Improvement
Visual Data Communication
Variables
Creating a BI Implementation Plan
Financial Insights
Create Effective Business Models using Data 
Organizations can utilize various types of data, including: Descriptive Data: Historical data that provides insights into past
performance ...Sales Data Historical sales data to identify trends and patterns
...Continuously monitor performance
metrics to ensure the model remains effective and relevant
...
Identify New Business Opportunities through Data Competitor Analysis: Evaluating competitors’
performance and strategies to identify gaps in the market
...Performance
Metrics: Monitoring key performance indicators (KPIs) to evaluate efficiency
...This includes: Internal data (
sales, customer feedback, operational data) External data (market trends, economic indicators) Real-time data (social media interactions, website analytics) 2
...
Business Optimization Business Optimization refers to the process of improving a company's efficiency,
performance, and overall effectiveness through various strategies and methodologies
...Benchmarking: Comparing performance
metrics with industry standards to identify gaps and opportunities
...Enhancing customer service and
sales ...
Analyze Operational Data for Improvement Analyzing operational data is a critical process for businesses aiming to enhance efficiency, reduce costs, and improve overall
performance ...It encompasses various types of data, including:
Sales data Inventory levels Customer interactions Supply chain
metrics Employee performance data By analyzing this data, businesses can identify trends, measure performance, and make informed decisions that lead to operational improvements
...
Visual Data Communication Sales performance, market share analysis, trend analysis Infographics Visual representations that combine data, graphics, and text to tell a story
...data storytelling Dashboards Interactive visual displays that consolidate key
metrics and data points in one view
...
Variables Model Building: In predictive modeling, the choice of variables directly affects the model's
performance ...Sales Revenue, Weight Variable Selection in Data Mining In data mining, variable selection is a critical step in the data pre-processing phase
...Methods: These methods perform variable selection as part of the model training process, incorporating variable importance
metrics ...
Creating a BI Implementation Plan Key components of BI include: Data Warehousing Data Mining Reporting and Querying
Performance Metrics and Benchmarking Data Visualization 2
...This could include improving
sales forecasting, enhancing customer insights, or streamlining operations
...
Financial Insights Diagnostic Analytics: This focuses on understanding the reasons behind past
performance ...Data Collection Gathering relevant financial data from various sources, including accounting systems,
sales reports, and market analysis
...This type of analysis often includes: Financial Ratios: Key
metrics such as profitability ratios, liquidity ratios, and solvency ratios
...
Historical Data Review Historical data review serves as the foundation for this analytical process, enabling businesses to leverage their past
performance to make informed decisions
...Common sources include: Internal Data - Data generated from within the organization, such as
sales records, customer interactions, and operational
metrics ...
Evaluating Operational Data This data can provide insights into
performance, efficiency, and areas for improvement
...Sales records, purchase orders, invoices Process Data Data related to the processes that produce goods or services
...Production times, workflow
metrics, inventory levels Performance Data Data that measures the effectiveness and efficiency of business operations
...
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