Setting and tracking sales goals in Shopify is essential for driving business growth throughout the year. To effectively measure your progress and set realistic targets, comparing your performance to the same period last year is crucial. In this blog post, we'll discuss how By the Numbers can help you track your sales goals and make data-driven decisions to grow your business.
Period-over-period goal tracking in By the Numbers allows you to compare your performance against the same period last year, making it easier to account for seasonal fluctuations and other factors. This approach is important for all quarters, as it enables you to set and adjust your goals based on your previous year's achievements.
Our advanced machine learning procedure for forecasting time series data is based on an additive model that takes into account yearly, weekly, and daily seasonality, as well as holiday effects. This ensures accurate sales predictions even for businesses with strong seasonal effects and only a few seasons of historical data.
Our forecasting model is robust to missing data, trend shifts, and can typically handle outliers well. By employing this innovative approach, you can be confident in your sales forecasts and make data-driven decisions to grow your business.
In our previous blog post, "Introducing Goals", we explored how to set and track goals using By the Numbers. In this post, we focus on setting the right sales goals. This is crucial for motivating your team and achieving business success. Here are some tips for setting effective sales goals using By the Numbers:
By leveraging period-over-period goal tracking and setting sales goals with By the Numbers, you can better align your sales goals with your business's unique patterns, making it easier to set achievable targets and track your progress. Harness the power of data-driven insights to drive your business's success across all quarters.