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Direct Hit

Unit 4 - Marketing - QB

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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>Imagine you&#39;re a fortune teller. Instead of predicting someone&#39;s love life, you&#39;re predicting a company&#39;s future sales. That&#39;s sales forecasting! 🔮</li>
	<li>In simpler terms, it&#39;s like guessing how many candies are in a jar, but for business sales.</li>
</ul>

<ul>
	<li>Knowing the future (well, at least trying to) reduces surprises (the not-so-fun ones). 🎁</li>
	<li>Helps businesses play the real-life version of Tetris with their stock and cash. 📦💵</li>
	<li>Provides a roadmap for planning growth. Think of it as using a GPS instead of wandering aimlessly. 🛣️</li>
</ul>

Many unpredictable things can affect predictions. It&#39;s like predicting tomorrow&#39;s weather just by looking at today&#39;s sky.

Let&#39;s Dive Deep into the World of Time Series Analysis 
Think of it as a trip down memory lane, but for sales data.

<ul>
	<li>
	Trend 📈📉

	<ul>
		<li>What&#39;s the vibe after looking at past sales data? Going up? Going down? Staying steady?</li>
		<li>Real-world example: Remember when everyone was suddenly obsessed with fidget spinners? That&rsquo;s a trend!</li>
	</ul>
	</li>
	<li>
	Seasonal Fluctuations 🌸❄️

	<ul>
		<li>Some products sell differently throughout the year. Bikinis in summer, coats in winter.</li>
		<li>Example: Ever notice Halloween candy in stores only around October? By December, it&#39;s all about Christmas goodies.</li>
	</ul>
	</li>
	<li>
	Cyclical Fluctuations 🔄

	<ul>
		<li>Tied to the economy&#39;s heartbeat. Sometimes it&rsquo;s strong and fast, other times, slow and weak.</li>
		<li>Think of it as a rollercoaster ride. Sometimes you&#39;re on a thrilling high (economic growth), other times you&#39;re in a gut-dropping low (recession).</li>
	</ul>
	</li>
	<li>
	Random Fluctuations ❓

	<ul>
		<li>These are the surprise party poppers of the sales world.</li>
		<li>Real-world scenario: Imagine it&#39;s a chilly winter day, and suddenly, the sun&rsquo;s out, and everyone&#39;s craving ice-cream. Didn&#39;t see that coming, did you?</li>
	</ul>
	</li>
</ul>

Sales forecasting is like a compass for a business. It&#39;s not always 100% accurate, but it sure helps in navigating the wild seas of the market. 🧭🌊

&nbsp;

Happy Studying! 📘🌟

Mastering Sales Forecasting: Key Trends & Techniques Revealed!

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Higher Level

Business Management HL

Unit 4 - Marketing - QB

Mastering Sales Forecasting: Key Trends & Techniques Revealed!

Table of content

Sales forecasting - what is it?

Why is it SO important?

But wait, predicting isn’t easy! 😲

Unlock the Full Content!

Unit 4 - Marketing - QB

Mastering Sales Forecasting: Key Trends & Techniques Revealed!

Table of content

Sales forecasting - what is it?

Why is it SO important?

But wait, predicting isn’t easy! 😲

Unlock the Full Content!