The term "Previous Month" refers to the month that comes before the current month in a calendar year. For example, if today is March 15, the previous month would be February. This concept is commonly used in various contexts, such as financial reporting, project timelines, and personal planning. In many businesses, analyzing data from the previous month helps in assessing performance and making informed decisions. Companies often compare sales figures, expenses, and other key metrics from the previous month to identify trends and areas for improvement. This practice is essential for effective management and strategic planning.