Predictive Analytics: Leveraging Data Science to Drive Business Decisions

The practice of assessing how well a company’s sales efforts are performing is called sales analysis. Analyzing sales data, such as the volume of sales, the size of the average sale, and the conversion rate, may be necessary to achieve this. Any business that wants to succeed and expand has to conduct regular sales analysis. This may assist in comprehending the company’s sales patterns and trends, spot areas for improvement in the sales process, and make wise business decisions. It is easy to spot the areas of improvement and make adjustments to the sales approach that can aid in producing greater outcomes by routinely examining sales statistics. It has been proved that predictions made by analyzing data is more accurate than any other ways of prediction. This is when the field of data science started emerging. After the emergence of this field, researchers were not able to work on data and make predictions because of the insufficient data. After a decade, sufficient data was available and hence nowadays in almost all firms’ data scientists have made their spot. Sales analysis is being made from a long time and the results derived from the process has been found to help in improving sales. This research study aims at explaining how data science is expected to be used in sales analysis in order to improve the sales.