3.3.1 quantitative sales forecasting

studied byStudied by 5 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 12

13 Terms

1

quantitative sales forecasting

statistical technique which uses historical smoothed out data to make predictions about the future

New cards
2

4 components that can skew data

random fluctuations, trends, seasonal fluctuations, cyclical fluctuations

New cards
3

ways to show trends

calculations of time series analysis, scatter graphs, extrapolation of past data- look for the trend and extend the line

New cards
4

moving averages

calculating the most recent 3 or 4 periods to create an average

New cards
5

sales figures collected at consistent time intervals

time series data

New cards
6

centring

find the average at 2 four quater moving averages and you place the result against the 3rd period (month / year) of the first moving average

New cards
7

time series analysis

only shows what is happening to data

New cards
8

casual modelling

tries to explain data by showing a link or relationship between sets of data. this can be shown through a scatter graph comparing two variables

New cards
9

extrapolation

trends in the past sales data can be continued in the future to forecast sales

New cards
10

SWOT factors

Strengths, Weaknesses, Opportunities, Threats

New cards
11

PESTLE C Factors

Political, Environmental, Social, Technology, Legal, Economical, Competition

New cards
12

Quantitative Sales Factors limitations

products with a short lifespan may find extrapolation misleading

New cards
13
New cards
robot