Measuring Sales Performance Using Simple Statistical Models

Measuring sales performance is a crucial aspect of running a successful business. Accurately tracking and analyzing sales data helps companies understand their strengths and weaknesses, perform forecasts, identify trends, and make informed decisions that drive growth. In this article, I will illuminate how some simple statistical models can be used for measuring sales performance. Whether it is a small or enterprise sales team, simple quantitative techniques can be used to provide valuable sales insights or draw attention to areas of need. After reading this article, you will see various examples how simple models are applied in real life scenarios. Note: All the images in the article were generated by Artificial Intelligence using Stable Diffusion 2.x.