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Data Science Primer: Sales Forecasting

Limits on humans’ abilities to take in vast amounts of data and make connections within the data set means conventional sales forecasting methods are limited in their accuracy and usefulness. Ultimately, a certain amount of human intuition is necessary—whether in what data to consider or what conclusions to draw from it.
 

Brian Goodwin, PhD by Brian Goodwin, PhD

Turn the Lights On, Plug into Power BI

As a consumer of products, I am a stickler when I purchase items over a certain amount. I want quality, I want a good price, and I want to know that the company will stand behind the product they sell me. I rarely, if ever, have purchased the latest and greatest thing because, unless it offers something so incredible and I just can’t resist, I usually look at last year’s model. It will typically have tested metrics, it has reviews by many users, and if updateable – fixes and updates provided by the manufacturer. And more often than not, it’s much cheaper because a premium is generally charged for the newest features. I have typically dealt with software purchases and adoption using this same approach, and rarely come across something that falls into the “must have” category. So why am I boring you with how I purchase things? I’m doing it to outline the fact that I am not the guy that needs the latest shiny thing or the “jump on the bandwagon” type of individual.

Seth Bauer by Seth Bauer