Sales data usually refers to the recorded purchase transaction of a product between a brand and a consumer. Yet the sales process is rarely straight forward. There are typically several businesses involved with getting products into the hands of consumers.…
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Gaining Insights with Tableau: Filtering
The data that has been gathered and imported into Tableau is just the starting point for data analysis. The insights gathered from the program’s information are possible because of the specific tools used in the platform. Without knowing how to…
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Tableau: Live, Extract, and Joining
In business today, you hear the term data-driven decisions, but do we understand what that means? As business owners or people working for a company, we must realize that all decisions must be supported by some information to make sense- i.e.,…
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Efficiency with ERP Systems
Enterprise Resource Planning (ERP) systems (Links to an external site.) use live data to create a central hub for all of a company’s records. The information from all of the business’ departments funnels into this one system for accurate reporting. Systems of…
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Price Elasticity within the Cosmetic Surgery Industry
Price elasticity (Links to an external site.) refers to how changes in price affect the demand for a product or service. Price and quantity demanded hold an inverse relationship; thus, the price sensitivity of an item depends on whether the product is…
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Calculating Margins with Botox
Price margins is a pricing strategy that can be used to calculate a business’ prices. Since all businesses aim to make a profit, setting prices is as important as finding the optimal mix of products and services to meet the…
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A Hospital’s Slice of the Pie
Market Share describes the total sales a company captures within an industry. This metric allows a business to evaluate itself against its competitors to determine how well it’s performing in its industry category. Like all other businesses, hospitals also assess their…
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Using Census Data for Healthcare
Census data can be used in various ways by businesses in all industries. When households receive the form in the mail, it seems like another task to add to the to-do list that sits with a low priority. However, the census…
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