Category: Forecasting

Demand Forecasting and Its Benefits for Business If a breakfast cereal company wants to introduce a new product in the market, it is reasonable to invest in forecasting demand. Here, the company should choose between quantitative and qualitative techniques. I would recommend using a simple moving average and market research approaches because they are suitable…

Sales Revenue Forecasting for 2005 and 2006 This paper seeks to examine historical sales revenue data to establish a forecast for 2005 and 2006. The historical data exhibit quarterly seasonality, which will be verified by plotting a scatter diagram of sales revenue against time. This scatter diagram, otherwise called a time series plot, further demonstrates…

Error Measures in Forecasting In forecasting, error measures play important roles because of their potential in helping to identify the forecasting method that would be the most appropriate in a given context. Each error measure can have certain limitations and thus lead to the inaccurate evaluation of forecasting results, which contributes to the increased complexity…

A Mini-Economic Forecast of the Recent Drop of the Euro Currency Introduction In the recent past the euro has witnessed a relentless decline in value to the lowest point in four years. The decline is associated bailout that was undertaken by governments in the euro zone during the financial crisis. The countries borrowed heavily from…

Tax Forecasting for the Republic of Vardar Table of Contents Introduction Tax Collection Recommendations Forecast Conclusion References Introduction The Republic of Vardar gained its independence at the beginning of 1990. It came because of the broke up of the Soviet Union. Thus, as a governing unit it has existed even before, but as a part…

Demand Forecasting and Its Benefits for Business If a breakfast cereal company wants to introduce a new product in the market, it is reasonable to invest in forecasting demand. Here, the company should choose between quantitative and qualitative techniques. I would recommend using a simple moving average and market research approaches because they are suitable…

Applying the Forecasting Techniques Table of Contents Introduction Exponential Smoothing Forecasting Calculation Alternative Calculation Method Operations Planning Planning Systems Reflection References Introduction When it comes to any business operations, a long-term strategy and predictions play a significant role in the businesss success. Forecasting, for its past, has become an integral part of the business strategy…

Business Statistics and Sales Revenue Forecast Introduction Forecasting future sales with certainty is impossible since the market conditions are unpredictable. The economy is always constantly changing. Despite the uncertainties, management of companies still need to prepare sales forecasts to enable them to prepare a budget for revenue and expenses. The preparation of such budgets is…

Transportation Forecasting: Strategic Planning Table of Contents Summary Knowledge/Application Area 1: Transportation Management Knowledge/Application Area 2: Financial Management Methodology 1: Other Descriptive Models (Forecasting) Methodology 2: Optimization Modeling and Solution Techniques Planning Level 1: Strategic Planning Level 2: Operational References Summary Logistics is an important part of the everyday activity of the armed forces. The…

Sales Forecasting: Guillermo Stores Table of Contents Introduction Risk in sales forecasting Ethical Factors in Sales Forecasting Conclusion References Introduction Budgeting, therefore, takes into consideration various factors to come up with an appropriate forecast. For Guillermo furniture to produce correct sales estimates within its forecast budget, it s needs t to consider the factors affecting…