Business Statistics
Take your business to the next level by effectively analyzing and interpreting your data.
With the dramatic increase of available data, businesses started to realize the importance of data analytics to make evidence-based decisions. Managers spend a lot of time reading regular reports to understand sales, marketing strategies, business operations, and financial performance. Our team will help you identify patterns and trends through expert graphical visualizations of your business data. Data visualization is an important step in any analysis, it enables one to make quick and effective decisions since it is much easier to comprehend information through visuals rather than the raw reports.
We understand that data and graphical presentations can be done in-house using standard software packages such as Microsoft Excel, but does your team fully understand how to carry out the statistical tasks needed to transform your data into a valuable source of information to improve and grow your business? Clients usually come to us for support in selecting the most appropriate statistical techniques or tests, to help interpret the obtained results, or to find the best ways of presenting their results.
Our team will develop interactive dashboards with pivot tables and charts to pinpoint the areas of your business that require attention and improvement. These interactive dashboards will provide you with the flexibility to drill down to different levels of detail and examine how different scenarios can drive your business. They help you gain insight into the target market and makes appropriate business decisions that will propel it toward success and improve the overall performance.
Our company can also help you with basic statistical tests to identify whether a new product or service improves your financials. For instance, we can apply A/B testing to determine whether a new promotional campaign drives more traffic. We can advise on the correct test to perform and what you should do to avoid producing biased, misleading, or invalid results.
Sometimes basic statistical tests are insufficient, modelling approach are more reliable. Our team can develop sophisticated statistical models to help you better understand what the key performance factors are and what impact these factors have on your variable of interest. We can help you estimate and predict the factors that drive and influence your business success.
By having access to our services, you can significantly enhance your ability to accurately understand and interpret your data.