Numerical Data

Numerical data is all about numbers and quantities. In the world of business intelligence and data analytics, it’s the type of data that includes anything that can be measured or counted. Sales figures, profit margins, inventory levels, and customer counts—these are all examples of numerical data that businesses track and analyze to make informed decisions.

Unlike other data types, numerical data allows you to perform mathematical operations. You can add up all your daily sales to find your total for the month, or compare the number of products sold this year to last year to calculate growth. It’s like having a scoreboard for the business, showing the score in real time, which is crucial for figuring out if the business strategies being used are winning the game.

Thanks to numerical data, businesses can run statistical analyses to find trends, patterns, and predictions that aren’t always obvious. For instance, a shop might discover that their sales go up every time they play certain music, or a gym might find that more people sign up for memberships at a certain time of year. It’s facts and figures like these that can guide companies to smarter strategies that boost their performance.