Here is the synopsis of our sample research paper on The Value of Forecasting. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 4 page paper outlined the value of forecasting to a business, including the different forms of forecasting and the way the results can be used by a business to plan for the future and to help in making decisions. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEforcst.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
conjunction with capital expenditure. In understanding the roe that forecasting can play, the aid it can give in decision making and how it may help with the determination of management
and strategic goals can be appreciated. There are several different aspects of forecasting. The first issue may be the way in which demand is related to different factors. In
estimating demand relationship future demand may be forecasted with the use of a statistical factor. For example it is know that when the temperature increases more ice-cream will be sold.
Therefore, in forecasting the demand relationship needs to be ascertained. This may usually be gained form historical analysis. The forecast will then require the gaining of information regarding the future,
In this case it may be short range and long range weather forecasts. If there is going to be a hot summer then it will be known that sales will
be higher than if there is a cold summer. In estimating the demand relationship it is likely that a factor will show up that indicates a set level of increased
sales, for each single degree rise in temperature. To forecast demand it is therefore needed to know the relationship of the demand and also the need to identify the
variant factor. There are a range of factors. The weather is only one of a range of influences. The economic consideration, interest rates consumer choice and trends, even advertising will
all play a role on the way that demand is impacted. These will act independently but will also be seen to act together. This makes the forecasting of future demand
very complex. An example of an equation that may be Q = a + bP + cA + dY + e. Q
...