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  • Assignment: Ritika Gupta 0211PGM148 PGDM - Sap

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    Ritika Gupta
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    Businesses often struggle to accurately predict sales because sales and marketing teams are not properly aligned. Agreeing on a clear definition of what constitutes a viable lead that could be closed in a set time period would help align these teams and prevent end-of-quarter stress. Senior management must approve the definition and agree not to change it without discussion. When conducting regression analysis, analysts should not examine all possible variables at once, as this could produce spurious relationships. Consider whether the independent variables being examined are things that can be influenced, as understanding variables outside one's control is less important. Data quality is also crucial, so collect and handle data carefully while also recognizing not all data needs to be perfect. Check if the analysis outcomes

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    Businesses often struggle to accurately predict sales because sales and marketing teams are not properly aligned. Agreeing on a clear definition of what constitutes a viable lead that could be closed in a set time period would help align these teams and prevent end-of-quarter stress. Senior management must approve the definition and agree not to change it without discussion. When conducting regression analysis, analysts should not examine all possible variables at once, as this could produce spurious relationships. Consider whether the independent variables being examined are things that can be influenced, as understanding variables outside one's control is less important. Data quality is also crucial, so collect and handle data carefully while also recognizing not all data needs to be perfect. Check if the analysis outcomes

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    2 views1 page

    Assignment: Ritika Gupta 0211PGM148 PGDM - Sap

    Uploaded by

    Ritika Gupta
    Businesses often struggle to accurately predict sales because sales and marketing teams are not properly aligned. Agreeing on a clear definition of what constitutes a viable lead that could be closed in a set time period would help align these teams and prevent end-of-quarter stress. Senior management must approve the definition and agree not to change it without discussion. When conducting regression analysis, analysts should not examine all possible variables at once, as this could produce spurious relationships. Consider whether the independent variables being examined are things that can be influenced, as understanding variables outside one's control is less important. Data quality is also crucial, so collect and handle data carefully while also recognizing not all data needs to be perfect. Check if the analysis outcomes

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    © All Rights Reserved
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    of 1

    Ritika Gupta

    0211PGM148
    PGDM - SAP
    ASSIGNMENT
    Q1: - Businesses want reliable sales estimates, but sadly, they are hard to come by. This is since
    many businesses neglect to align their sales and marketing teams, which is a must for prediction
    accuracy.

    Agreeing on what defines a "lead" that a salesperson will be able to close in the month, quarter,
    or year will help businesses establish better alignment and prevent end-of-quarter stress.

    The senior management team needs to approve this definition of lead viability. Additionally, the
    group must agree to not alter the definition on the spot, which is equally crucial.

    Q2: - You need to bear certain factors in mind as a regression analysis user.

    don’t ask your analysts to look at every variable they can possibly get their hands on all at once.
    If you do, you’ll probably find relationships that don’t really exist. It’s the same principle as
    flipping a coin: Do it enough times and you’ll eventually think you see something interesting,
    likea bunch of heads all in a row.

    Also keep in mind whether you can do anything about the independent variable you’re
    considering. You can’t change how much it rains, so how important is it to understand that? “We
    can’t do anything about weather or our competitor’s promotion, but we can affect our own
    promotions or add features
    Avoid asking your analysts to examine all the variables they can at once.

    Also examine whether there is anything you can do to influence the potential independent
    variable. How crucial is it to realize that you cannot control how much it rains?

    Second, "analyses are very sensitive to bad data," so be cautious about the data you collect and
    how you collect it. Also, know whether you can trust the data you collect. "Not all the data has to
    be right or perfect,".

    Consider whether the outcomes line up with how you see the circumstances. Additionally, if you
    notice something that doesn't make sense, consider whether the data was accurate or whether a
    significant error term exists.

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