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Chapter 8. Analyzing Alternative Data Se... > Varying Your Data to Get a Desired R...

Varying Your Data to Get a Desired Result

An important aspect of running a business is knowing how every department and product is performing, both in absolute terms and in relation to other departments or products in the company. Just as you might want to reward your employees for maintaining a perfect safety record and keeping down your insurance rates, you would also want to stop carrying products you are unable to sell.


When you plan how you want to grow your business, you should have specific goals in mind for each department or product category. For example, Catherine Turner, the owner of The Garden Company, might have the goal of increasing the total revenue generated from flower sales by 10 percent a year. Finding the sales amount that represents the 10 percent increase is simple, but expressing goals in other ways can make finding the solution more challenging. Rather than grow flower sales by 10 percent a year, Catherine might want to increase the sales so that flower sales represent 40 percent of the total sales for The Garden Company.


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