1 answer

What can companies do to improve their forecasting? Corroborate your answer with real-life business examples. 2-3...

Question:

What can companies do to improve their forecasting? Corroborate your answer with real-life business examples. 2-3 paragraphs


Answers

The company can improve their forecasting as explained below:

The time series gather the data over time to identify trend. The mobile sales on the new version can be analyzed when it enter the market according to that latest trend and style. The trend varies according to the need of the customers, so market research needs to be done to understand on the trend on that situation of the mobile release.

The seasonal forecast needs to be done, so that it is easy to predict on the needs of the customer and modification on the mobile phones can be done through high end technology. The time series shows on the increase and decrease trend, so that the mobile sales can be planned when the time series show on increase trends. So that the company can earn more profit on increase demand when time series forecast is analyzed.

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