12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Business analytics is a collection of techniques, methods, and processes used to collect, analyze, and interpret large amounts of data to make better decisions for businesses. It can help identify trends and pattern recognition that affect a company's performance and measure the results of investments. Business analytics can also help create a better understanding of customer needs to increase sales and improve customer satisfaction.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A Customer Relationship Management (CRM) system is a software or framework that helps organizations manage and track customer relationships. It can help collect, organize, and analyze customer information to provide valuable insights. It can also help improve customer experiences and support sales.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Expansion is the process by which companies extend their existing products, services, markets, activities or business units to new markets. The aim is to generate more sales by addressing new customers or offering new products or services. Expansion can be achieved by opening new locations, entering new markets or expanding the existing product portfolio.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Sales is a general term for the sale of products or services. It includes the entire process chain from identifying the need to closing the deal. Sales includes not only selling, but also customer care, marketing, pricing and many other aspects of the business.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Acquisition refers to the systematic acquisition of new customers or clients for a company or organization through an active sales pitch or other form of approach. Acquisition is a combination of sales promotion and customer retention. The purpose of canvassing is to attract new customers or clients who will support the business or organization by purchasing its services or products. Acquisition can take place in a variety of ways, such as a face-to-face sales call, customer outreach, direct mail, or online marketing.