sales forecasting Flashcards
1
Q
forecasting
A
a business process, assessing the probable outcome using assumptions about the future
2
Q
time series analysis
A
using past data to predict future sales
3
Q
what does it predict
A
future sales of products
effect of promotion on sales
possible changes in market size
how sales will fluctuate
4
Q
how is %change calculated
A
difference/original (x100)
5
Q
4 components that a business observes
A
trend (pattern indicated from figures)
seasonal fluctuations
cyclical fluctuations (highs and lows in sales figures)
random fluctuations
6
Q
limitations
A
only an assumption
