Sales analytics is used to identify, model, analyze and predict trends of sales which helps to determine the success of sales drive on the basis of the previous result and to forecast the sales. Data may be taken from various sources such as transactions, surveys and then analyzed. For better result relevant data is mined in order to make relationships and to forecast future sales based on the previous sales data that will be useful for the organization.
Organizations which want to forecast the sales have dedicated data mining experts or data analyst who finds the hidden relationship and trends which can be further used to provide a more accurate result for forecasting. So that the organizations have enough information to act on and discover new information.
An example of Sales Analytics: Google analytics and Web analytics are designed to track consumer activity on the web. Through this data get collected regarding a website that all visitor visited, this can be either in log files or it may be a cookie and then this information is analyzed to determine whether in which page visitor visited and if it is E-Commerce website whether he has purchased that product or not. In Social Network, it is analyzed in order to find out the most visited visitor and help to determine whether a social campaign which was created is fruitful or not.