Sales Analytics: Revealing the Power of Data in Sales
What is sales analytics? Sales data analytics, in its broadest meaning, is the process of extracting actionable insights from sales-related data in order to improve sales performance. We commonly identify four categories of sales analytics: Descriptive sales analysis seeks to extract insights from historical sales data gathered from a range of sources. Its findings can assist you answer questions like 'How much did the company make in total sales last quarter?' or 'What were the best-selling products/services last month?' Diagnostic sales analysis takes it a step further by revealing possible causes for a certain outcome. Thus, after doing a thorough diagnostic study, you may discover that the drop in your quarterly sales was caused by recent changes in a Google algorithm, which influenced the ranking of your web pages in search results and, as a result, your online traffic. Predictive analytics uses advanced technologies like machine learning and artificial intelligen...