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Chapter 1. Making Sense of Data > Using Data to Make Decisions

Using Data to Make Decisions

Collecting and storing data in text files, spreadsheets, or databases has little benefit if you don’t take any actions based on that data. For example, retail sales organizations can use information gained from analyzing their sales data to

  • Introduce new product lines.

  • Discontinue poorly selling product lines.

  • Mark up or mark down product sales prices.

  • Provide an adequate level of products during peak seasons.

  • Up sell or cross-sell products to specific customers.

  • Conduct discount sales promotions.


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