Many Nigerian businesses are now making use of data analysis to improve their profit, they have realized that for them to be able to strategically reach and maximize their target market , they need to keep record of their business data and make the necessary decision based on the analysis of the data.The Nigerian market place is ever changing, as a business owner you have to take advantage of your sales data to improve your profit.

How much do your prospects know about your product? Will they be willing to buy your product again after the first purchase ? If yes, how many of your product do you sell in a day, month and year? What is the average sales in a day, month and year? Is there a positive or negative relationship between some factors that influence the production of your product? To what extent does this relationship affect the sales of your product ?


You should able to identify your tiers of customers, those who have bought your product repeatedly, those who bought it once and not impressed with the product and those who are yet to patronize it in your target market. This information will allow you to answer some important questions pertaining to your product . For Instance, you can choose to entice one-time buyers by offering them special package. Identifying this sets of people will go along way in increasing the sales of your product, it enables you to design your products in way that will meet the needs of your customers.

No doubt, effective data usage and Implementation will increase sales.By observing past behaviors, businesses can predict which customers will visit again, the products and special offers that will interest their customers

Source http://www.midomedia.com/how-nigeria-businesses-can-improve-sales-through-data-analysis/

Data analysis is essential to a successful marketing campaign. Good corporations personalize their products/services and reach target customers by segmenting their data according various parameters such as demographics, geographical location, income level etc. Good write up op!

omoyankee3:
Data analysis is essential to a successful marketing campaign. Good corporations personalize their products/services and reach target customers by segmenting their data according various parameters such as demographics, geographical location, income level etc. Good write up op!

Thanks

Nice

Nice write up @ OP

Even PDP needs it.

Great statistician

Good write up. I am a data person. In my practice 'data analysis' helps you to answer three questions: how, why and what.
HOW is my products performing.
WHY is it performing at that level and
WHAT must I do to increase or stimulate its performance.
When you analyze your data you will tailor your campaign to meet customer needs because you can predict what they will buy next simply put as: 'Right offer' to the 'right customers' at the 'right time'.

Nice post OP. Am proud to b a data analyst uniben certified. Op spread d good news of data analysis

data analysis been making smart men rich since 100BC

Nice thread

fact from figures
statistics for planning

Please forgive my being naive...but I genuinely want to know, how can one acquire this skill of Data Analysis...
What programs do I need to run to become a Data Analyst?
Thanks!

Facts from reliable figure, I am a proud statistician.

This my career part.... Business analyst. Make aaua gree graduate us soon .

Data analysis with good study of customer behaviour are key to higher profit. The scope is wild and prospect is endless .

Data analysis also help reduce cost, modify business process, improve market offering, customer satisfaction etc

DonManuel01:
Please forgive my being naive...but I genuinely want to know, how can one acquire this skill of Data Analysis...
What programs do I need to run to become a Data Analyst?
Thanks!

i think the top most professional body is the IIBA- international institute of business analyst.

Interestly ur background those not really matter... Just ur love for figures and details.

hopsydboi:
This my career part.... Business analyst. Make aaua gree graduate us soon .

Data analysis with good customer behaviour are key to higher profit. The scope is wild and prospect is endless

That's a good career path bro. Evening

Please I'd like you to check my signature and consider him. Thank you

I think data analysis is good as long as the data analyzed does not violate your customer's privacy. Intrusive data collection may become a tempting prospect as other competitors adopt the techniques and the methods become almost insufficient for sustained competition. This is partly due to lack of innovation in the methods used and a lazy preference for intrusive data collection.

iykekelvins:
That's a good career path bro. Evening

Please I'd like you to check my signature and consider him. Thank you

I don't know which trend to vote or how to

This is really a good piece!

Its amazing what you can do with data!

I had my first experience with data analysis during my masters abroad.

Craigston:
I think data analysis is good as long as the data analyzed does not violate your customer's privacy. Intrusive data collection may become a tempting prospect as other competitors adopt the techniques and the methods become almost insufficient for sustained competition. This is partly due to lack of innovation in the methods used and a lazy preference for intrusive data collection.

Yes ...all right that why we are thought the ethical aspect of business analysis. Noisy data can kill the business too

There are tools and softwares been used for data analysis to predict and improve sales such as sap, erp , linear models etc they get data from a data warehouse and other pools of data and make accurate predictions for the purposes they are intended for.

hopsydboi:

I don't know which trend to vote or how to

I'll follow you and mention you on that bro, thanks a lot.

emmanwandud:
There are tools and softwares been used for data analysis to predict and improve sales such as sap, erp , linear models etc they get data from a data warehouse and other pools of data and make accurate predictions for the purposes they are intended for.

How about excel

The next step beyond Data Analysis is Analytics, specifically Predictive Analytics.

Pm me for your Research, Journals and data analysis issues

I will tell you why data analysis and analytics will always be a problem in Nigeria.. LIES! Lies because of outrageous targets by sales departments to sales executives.

I once before university, worked as a merchandiser in a diary company and I can tell you that sales canvassers are being made to go out and sell outrageous numbers if they would land something not even near a fine pay at the end of the month. I know how sales personnel would pad their report hook or crook to even get peanuts as pay.

We have a problem here in 9ja. Top-bottom problem.

Awww am so happy to read through this topic... thanks op.... I love statistics with all my heart even right from high school. Have BSc in stat and about to complete Msc in stat but am tired of it because of no job. My wish is to work in field of statistics if any one can help me but I wouldn't mind any where because Nigeria made me understand that half bread is better than none

Can a good Nigerian help me with retailman POS software?

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Nigerian youth and illiteracy. No single businessman commented only people who know the theory dey this thread.

Data analysis is good for business growth. A business without records is no business.