Average Daily/Monthly Temperature
- Do your sales, margins, or other key metrics follow temperature trends?
- Is there a ‘key’ temperature that cause changes (e.g. dramatic decrease above a specific temperature)?
Total Daily/Monthly Precipitation
- Do sales, margins, or other key metric change on rainy days?
- Does the number of consecutive rainy days matter?
Per Capita GDP by region
- Does your business match areas with high GDP per capita? The first thing that come to mind is to compare GDP to sales however other metrics such as location would be just as valid.
- Are your sales, growth, expansion, facilities etc. keeping pace with inflation?
Population of Target Demographic
- How do your sales, margins, or other key metrics vary by population?
- Using total population is an easy way to start, then refine by specific demographics.
All of these simple places to start require simplification and assumptions so any conclusion reached would only be preliminary. However by starting simple, you can begin a journey into unlocking insights in your internal data that can only be found by including third party data. All of the above jumping off points can be done using one of Qlik’s free products (Qlik Sense Desktop or Qlik Sense Cloud) and the free data in Qlik DataMarket so there are no excuses. Try including third party data in your analysis today, start with something simple!
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