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Key Business Analytics by Bernard Marr

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Market size analytics

What is it?

Market size analytics is the process of working out how large the market is for your products and services and whether there is any growth potential. The size of the market is either measured in volume, value or frequency. Volume equates to the number of units sold, value equates to the money spent in that market, and frequency is how often a product is sold. Essentially, the size of a market can be thought of in terms of ‘how many’, ‘how much’ and ‘how often’.

It seeks to work out how many people want or may want your product or service and how often they may buy it. But the current size of the market is not the only consideration with market size analytics.

Market potential is equally, if not more, important ...

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