The profound understanding of the common proverb “Time is Money” in business operations and dynamic decision making serve as a basis for implementing a great number of administrative decisions successfully. However, as most business decisions are made in an uncertain environment, we have to throw forecasts. Besides, nailing business parameters for all fields is no mean feat, especially if your goal is to dig deeper into the evolution of key performance indicators and metrics through time.
This is where time series analysis hits the spotlight. The time series approaches have found wide usage for clarifying, monitoring, and predicting some causality…
A few words on the importance of relevant data and indexes used to measure it
Data and data quality are among the hot-button issues in the modern business world.
Forward-looking companies want to leverage or at least dream about the valuable insights they can grab from data. And we cannot blame them for that, since data is a salient weapon in the competitive landscape, being omnipresent in all industries.
However, fetching some data pieces is only half the battle. Ensuring that the obtained data is high-quality and relevant is what separates leaders from laggards.