Regardless of who does it, fore-casting is done to identify what is likely to happen in the future so as to be able to benefit most from the events.
The very objective of business forecasting is to be accurate as possible, so that planning of resources can be done in a very economical manner and therefore, propagate optimum utilization of resources. Business forecasting helps in establishing relationship among many variables, which go into manufacturing of the product. Each forecast situation must be analyzed independently along with forecasting method.
Discuss problems and solutions associated with business forecasting in Nigeria
Business forecasting is basically an estimate of the future developments in a business or organization. This would include sales, expenditures, and profits.
John E. Hanke has written: 'Fundamentals of business statistics' -- subject(s): Commercial statistics 'Pronosticos En Los Negocios' -- subject(s): OverDrive, Business, Nonfiction, Text Book 'Business forecasting' -- subject(s): Business forecasting 'Instructor's manual to accompany Business forecasting, 2nd ed' 'Instructor's manual to accompany Business forecasting' -- subject(s): Problems, exercises, Economic forecasting, Business forecasting 'Understanding business statistics' -- subject(s): Statistical methods, Industrial management
Joseph Moses Gillman has written: 'Business forecasting' -- subject(s): Business forecasting
Wilson J. Holton has written: 'Business forecasting' -- subject(s): Business forecasting
Sales forecasting is using business intelligence to develop a strategy for budgets. Business intelligence is the data used to get the sales forecast.
Elizabeth W. Angle has written: 'Keys for business forecasting' -- subject(s): Business forecasting
One advantage of business forecasting is that it offers the business with essential information that can be used for decision-making regarding the future of the organization. One disadvantage forecasting is not always accurate. A bad forecast may break an organization.
Elmer C. Bratt has written: 'Business cycles and forecasting' -- subject(s): Business cycles, Economic conditions, Business forecasting
John A. Saunders has written: 'Practical business forecasting' -- subject(s): Business forecasting 'Quest&answer Bk Nature'
yes, there companies that will do demand forecasting for a small business. You can find them at www.allbusiness.com/human-resources/568478-1.html Give this a look, they do more then forecasting, they even help with business plans. http://www.johngalt.com/