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Application of business analytics
1. Application of Business Analytics in
Marketing and Sales
Industries use business analytics to maximize their
business operation.
Business Analytics is widely used in finance, human
resource, marketing, manufacturing, CRM, credit card
companies and public policy etc.
Companies study the pattern of consumer behaviour
through their likes and dislikes through social media,
spending patterns and lifestyle.
3. Marketing and Sales
To identify the target audience
To develop advertising technique to attract the
customers
Forecast the supply requirements
To identify the potential markets
To supply goods or services as per customer
specifications.
4. Importance of BA in marketing and sales
Segmentation
BA tools provide segment wise reports which can be used by
marketing manager to ascertain where to focus his resources
Marketing mix optimization
BA tools helps in identifying correct marketing mix
(product, price, place and promotion)
5. Competitor Analysis
Sales manager needs BA to compare the information with its
competitors and to discover the areas of improvement.
Sales Performance Analysis
BA can gauge the sales performance and helps to increase
the performance.
6. Benefits of BA for marketing and sales
Develop critical skills
Track behaviour patterns of the customers
Forecast trends
Developing the quickness for numbers and statistics