Question
Choose Two (2) quantitative elements that you would like to research in relation to the organization that you selected for your business plan. These elements
Choose Two (2)quantitative elements that you would like to research in relation to the organization that you selected for your business plan. These elements may be related to products, services, target market, consumer preferences, competition, personnel, resources, supply chain, financing, advertising, or other areas of interest. However, at least one of these elements should be related to a product or service that your organization is planning to offer.
Developforecasts by implementing the following approach:
- Collect data, including old demand forecast and the actual demand outcomes. Don't have actual data? Use estimated data to meet the assignment requirements.
- Establish the quantitative forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.
- Forecast future demand using a quantitative forecasting method.
- Make decisions based on analysis of your new forecast..
- Measure the forecast error where applicable. Look for biases and improve the process.
Insert charts and supporting data from Excel and other tools in paper.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started