Using regression and time series analyses

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Reference no: EM131066494

There is a good living to be made out there by using regression and time series analyses to help marketing departments predict sales trends:

Statistical techniques such as this are not incorporated into the sales forecast. It is strictly the duty of the marketing department to do this.

Statistical tools like this are the only aspect of creating a sales forecast. If you leave it up to the computers and the math, they will always find the right answer.

This is an accurate statement. Statistical techniques enhance managment intuition with facts and logic to help make some of the most important decisions you can make in business. There is a lot at stake if the wrong decision is made.

This is not accurate because the process is straightforward and easy and as long as you are pretty accurate you can sit back without worry that your business will be profitable.

Reference no: EM131066494

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