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What is incremental analysis? If you've studied either macroeconomics or managerial accounting after high school, you are probably very familiar with the term. According to Investopedia,
An incremental analysis is a decision-making technique used in business to determine the true cost difference between alternatives. Also called the relevant cost approach, marginal analysis or differential analysis, incremental analysis disregards any sunk cost.
It's important to treat each one of your clients like the individuals that they are. If you incorporate these 7 tips into the way you handle business, your relationships with your clients will soar!
1. Find the line between humble and professional.
Your client hired you for a good reason: you are good at what you do. You have convinced your new client that you have the skill and expertise to maximise their success and increase their profits. But, clients can sometimes be difficult and think that they know more. It's important that you first hear what they have to say and listen to their ideas properly; thereafter, come back with your hard hitting facts, incredible knowledge and groundbreaking ideas.
Think of how storing information has evolved over the years: first we had the rolodex (or as some of you might remember- the carousel) and today we have cloud storage, like Dropbox. As the years went by, we continued to improve the way we store important information.
So now what about big corporations and their colossal amounts of data? How has technology evolved so that it stores such private information securely? Well, in 1970, the term data warehousing was coined.
It is the one solution to categorising and storing an abundance of statistics, facts and numbers safely out of reach of those who do not have permission to login.
With the copious amounts of digital data that passes through companies, there's no mystery as to why “Big Data” has been an ongoing business buzzword. However, all the data in the world may be absolutely useless if it cannot be interpreted for others to understand.
Since the beginning of time, humans have strived to make sense of figures and statistics; the only thing that has changed since then is the quantity and details of the data – but not the principles.
So once you've gathered all your data, you need to slice and dice it to display meaningful insights that can help with decision making and help others make sense of important data.