How Can Business Statistics Boost Profitability in Your Indian Business Unit?

Dear All,

Please help to answer this question: Suppose you are heading a business unit in India. What points about statistics will you keep in mind to make the business profitable? In other words, what is the relevance of business statistics in your venture?

I am also searching on the same topic, can anybody help us out? Please suppose you are heading a business unit in India. What are the points about statistics you will keep in mind for doing profitable business? In other words, what is the relevance of business statistics in your venture? I am looking forward to getting an answer.

Dear Mr. Nayak,

There are various things you need to consider if you are heading any profit center. A few of them are as follows:

1) Quality improvement
2) Continuous search for new vendors in order to reduce costs by lowering the cost of raw materials/products.
3) Government compliance requirements need to be addressed from time to time.
4) Other day-to-day cost-cutting initiatives.
5) Always keep an eye on indirect costs such as logistics, rentals, electricity, etc.

Best regards,
Ashe