Market and sales analysis

Question 1

What is market analysis?

Answer 1

The assessing of a market situation, gathering information on its activity and conditions that effect it.

Question 2

What is sales forecasting?

Answer 2

Gaining an idea of future sales activity based on past activity and current trends.

Question 3

How would you calculate a 3 point moving average?

Answer 3

Taking past, present and future values and dividing by three to make an average considering all.

Question 4

What is extrapolation?

Answer 4

Extracting information from past data to use in current or future data.

Question 5

What is time series analysis?

Answer 5

A way of analysing a sequence of data over a period of time to spot useful patterns.

Question 6

What are the three types of correlation?

Answer 6

Positive, negative or none at all

Question 7

What are the three types of qualitative forecasting techniques?

Answer 7

Intuition (based on one individuals’ instincts)
Brainstorming (multiple individuals discuss)
Delphi method (using surveys and questionnaires)