Sales forecasting predicts future level of sales in a business from past sales data. Business managers rely on this data to predict the future.
Posts published in February 2023
Simple linear regression is a method of sales forecasting focused on studying relationships between two quantitative variables.
This article explains basic accounting structures that exist in a business. The record to keep track in financial statements items is an account.
These terms correlation, causation and coincidence while having similar pronunciation also have completely different meanings, cannot be used interchangeably.
For almost any international marketing research project, an analysis of available secondary information is a useful and inexpensive first step.
This article uses statistical techniques to conduct sales forecasting in a business. Sales forecasting predicts future level of sales from past sales data.
Change shows how the data changes over time. Changes of individual observations in a dataset is statistically measured by an index.
Deviation shows how the data deviates from the mean; the distance from the center point. Deviation measures the difference between an item and arithmetic mean.
Dispersion shows how widely the data are spread. Dispersion measures the spread of dataset and shows data distribution into different intervals.
Frequency shows how often the data occurred. Frequency measures the numbers of times that the event occurred in an experiment or a study.
Average shows the center point of the data. Averages show what is in the center area of a dataset; hence measure central tendency.
Statistical analysis can help business managers to make better decisions as the risks are reduced to make choices based on factual results.
These four steps to manage cash flow will help you keep track of the money coming in and out of your growing company.
A business conducting research will produce vast amounts of market research results: information in a descriptive form and data in a numerical form.
Let’s take a test of your intercultural business knowledge. Never take anything for granted when you are doing business in a foreign country.
This article describes the most common non-probability sampling methods used for the primary market research purposes. There are three of them.
This article describes the most common probability sampling methods used for the primary market research purposes. There are six of them.