Fey Company Is a Small Factory That Produces Fashionable Hats

Essay

Fey Company is a small factory that produces fashionable hats it sells on its website and to other wholesale vendors. Fey's managers have been reviewing their financial statements and are growing concerned that their profit margins have continued shrinking year after year. Management has begun the process of collecting data and would like to employ data analytics to determine the causes of these changes in profit margins and create a plan to implement meaningful changes moving forward. What type of data analytics should management employ to satisfy their needs, and why?