quantitative sales forecasting Flashcards
1
Q
what is quantitative sales forecasting
A
involves using statistical techniques to analyse existing data in order to make decisions
2
Q
calculate three year moving average
A
Q1 +Q2+Q3 /3
place in middle of period so Q2
3
Q
calculate 4 quarter moving average
A
Adding Q1 Q2 Q3 Q4 and dividing by 4
place in middle of period so inbetween Q2 and Q3
4
Q
What is correlation
A
correlation shows how closely related one set out data is with another
5
Q
what is extrapolation
A
using past data to predict future trends. more accurate in the near future
6
Q
what are the advantages
A
easy to interpret
graphs reveal correlation
based on data
