Why Prior Year Data Comparison is a MUST

One of the lead metrics for any business, especially in the cyclical industry, is understanding how it has performed in the past and how it is trending in comparison to previous years and other time periods. This essential information can help your business utilize this data to make informed decisions to improve your performance.

Are your revenues sensitive to the business cycle? When are your periods with high activity & profits or the opposite, and why it is good to know? 

Prior-year data comparison steers you in the right direction and helps you:

• Identify trends: Trends reveal data patterns, both positive and negative.
• Track progress: You can track your progress and understand how your performance has changed over time.
• Spot opportunities for improvement: By identifying areas where performance has declined, you can take action. Focus efforts on improving those areas with the right execution plan in place. 
• Set realistic goals: Set realistic goals for your future performance based on historical data.
• Make well-informed decisions: Prior-year data comparison helps you with your company strategies for future operations, investments, and goals.

We understand how crucial data and statistics are for continuous improvements.  TeamGuru empowers you to support your business processes and your leadership to make decisions based on real-time information.

Are you heading in the right direction? Up, Up you go. 

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