National trivia day: Test your knowledge of data analytics in the context of a sales department

“Free BI tools trial, business analytics software for free, free BI reporting with AI-powered insights”– these offers are tempting business people all the time especially as new open-source players enter the market and want cut-through.

For many sales professionals, the phrase daily sales report used to conjure up thoughts of frustrating delays and data that's already stale by the time it is received. Often these reports were created by the IT or finance team who had a long list of requests, so the information was more of an historical snapshot. Fortunately, the creation of sophisticated data analytics has improved this work, transforming sales reporting into a self-service and quick task.

If the owner of your business wants to expand to a new State, would you have the sales forecasting figures to know whether the business can afford to do that or not? Or, if you had to produce a 3–year solvency projection for the CEO, is your sales forecasting process robust enough to support a reliable analysis?

Sales and operational planning (S&OP) helps businesses to align their strategic goals with day-to-day operations. By integrating financial planning with operational and sales planning, S&OP ensures that all departments work cohesively towards common objectives. This process operates on strategic and tactical levels, providing insights that influence long-term decisions while guiding day-to-day actions. Understanding the dual focus of S&OP is essential for creating a robust plan that addresses immediate needs while positioning the company for future success.