What Is The Importance Of Statistics In Marketing?


2 Answers

Frances Bott Profile
Frances Bott answered
The importance of statistics is as follows:

• Facts
• Figures
• Planning
• Awareness

You are not going to be able to get far within the profession of marketing if you do not know where your business is and what the plan is for the business. With the ability to have all of the facts and figures that you need to move forward and become more successfully, you are going to be able to plan ahead and be aware of the different problems which you may need to overcome and the adaptations that you may need to make with regards to your business plan.

If there were no statistics in marketing, it would be very difficult to see where the company is going to be headed. They allow the company to see where they may be having different problems and how this is affects the figures which they are making. The facts are simple. They are there to ensure that a company is not going to have to guess the amount that they are making and how well certain products are selling; they can see it for themselves.

When you work within marketing you need to keep on top of how much you are selling and how successful you are going to be if you don't make any changes and keep things as they are. With statistics life is made that bit easier. You can see all of the information that you need to make a difference and improve in certain areas and this is what is going to make any marketing business as successful as possible.

Companies will have regular meetings to ensure that they are aware of the different statistics of the company and how much they are making to ensure that they are not having any problems with the progress which they have.
Sergio Jemas Profile
Sergio Jemas answered

Such information like statistics is usually always important and it doesn't matter in which field of activity!

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