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What does the "Previous Period" mean?

The 'Previous period' which we refer to will depend on the date range which you have selected on the date picker. 


In April, if you select the period "Previous Month" from the date-picker to denote March, this refers to 1-31st March. In this case, the previous period will be the month of February:



 If however, you chose a custom date range on the date picker, and manually select 1st March - 31st March, the previous period, in this case, will be the equivalent number of days preceding the period that you have selected:


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