Mode, in business terms, is the most commonly occurring value in a given set of data. For example, if you wanted to understand which brand of cereal was the most popular in a store, you could look at the sales figures and identify the mode. It might be that out of 12 brands, four brands had higher sales figures than the other eight – those four would be considered the “mode” or most popular cereal brands. Knowing the mode helps businesses identify trends and make meaningful decisions about what products to stock, how to price them, and how to market them.