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Key Business Analytics by Bernard Marr

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28

Predictive sales analytics

What is it?

Predictive sales analytics is the process of figuring out how successful your sales forecast is and how to improve your sales predictions in the future.

Many companies now employ an analytics group that is responsible for data mining (Chapter 6) and analysis. This data mining activity looks for trends and relationships in the sales data which could help sales and marketing make more accurate sales predictions.

Alternatively, for smaller companies this type of analytics may be outsourced to a specialist data mining company that will determine future sales.

Why does it matter?

Sales revenue is the lifeblood of any business so knowing how much you can expect to receive has important tactical and strategic ...

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