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Descriptive Analytics Tools

In: Data Science and Analytics for SMEs

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  • Afolabi Ibukun Tolulope

Abstract

This chapter is focused on the mostly common descriptive analytics tools used in business generally and specifically in small businesses. The chapter will help to use descriptive analytics tools to understand your business and make recommendations that can improve your business profits. For small businesses, descriptive analytics helps SMEs to make sense of available data to monitor business indicators at a glance, help SME owners observe sales trends and patterns on an overall basis, and deep dive into product categories and customer groups. It also helps SMEs plan product strategy, pricing policies that will maximize their projected revenues and derive valuable insights for getting more customers.

Suggested Citation

  • Afolabi Ibukun Tolulope, 2022. "Descriptive Analytics Tools," Springer Books, in: Data Science and Analytics for SMEs, chapter 0, pages 83-111, Springer.
    • Handle: RePEc:spr:sprchp:978-1-4842-8670-8_5
    DOI: 10.1007/978-1-4842-8670-8_5
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