Data Analysis in a marketing scenario and training tips

Data analysis is the phenomenon of observing and inspecting data and looking at it in a fruitful and yielding perspective. From marketing point of view, data analysis methods constitute those, which specifically target on achieving high goals that would alter the profit rate positively. In the dynamic field of marketing, the data of former sales and services is worked upon and the analysts come up with different propositions of improving the yield rate, based upon the outcomes of previous strategies and experiences. For instance, based upon how a particular program or promotional package helps to increase the sales, a new strategy is devised with a purpose to improve or at least maintain the sales rate. Different courses for training from Octopus are available with a main target to educate business people increase their yearly output.

It is usually believed that the analysis training workshops should be fun, entertaining, while at the same time informative and knowledgeable. Data analysis methods include the education of all the measures that need to be taken for the betterment of business and marketing schemes. Following is an outline of what these workshops constitute:

How to shape and design a specific commercial promotion and what factors should be kept in mind? What things should be included in the promotion? Based on previous data records, what kinds of measures should be taken to increase the sales and outcomes? Customer behavior should be well-analyzed, with a special concern about the requirements and needs of the customers. Most of the times, sales drive is increased by launching promotions like ‘Buy one get one free’, ‘free shipping’ and ‘ the provision of discount vouchers’ etc. So, these strategies must always be kept in mind. The knowledge of the fact that which type of crowd attracts to which kind of promotion. Again this is based on the data analysis of previously recorded figures and facts. How to attract new customers and retain the old ones? Retailer himself must be well educated about the specifications of a certain brand and the products it offers. Based on previous demographics, the promotion must be thoroughly studied for its effectiveness.
Our Analysis Training workshops include this and more!

Data analysis can be easily performed by looking at the past records and doing all that is possible to come up with new provisions and offers. Some factors that determine the outcome of data analysis methods include:
The inclination of the customers towards a particular product or service. The basic priorities of the customers. The ratio of sales to time, which is exactly the measure of rapidity of sales and services. The loyal customers (those who buy a product from a retailer, even without any promotion) should not be considered while analyzing the data and sales history. The elements of the promotional package and whether they satisfy the needs of customers? Whether or not a promotion targets new clientele? Contact Octopus to find out more.