ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which type of sales forecasting is based on the analysis of hard facts or numerical data?
A
long range
B
Qualitative
C
Quantitative
D
Short range
Explanation: 

Detailed explanation-1: -Quantitative sales forecasting is a type of sales forecasting that is strictly objective and focuses on hard numerical sales data collected over the past months, and even years.

Detailed explanation-2: -In general, qualitative forecasting is based on subjective opinions and insights, whereas quantitative forecasting is more focused on using historical demand data in statistical calculations to predict the future.

Detailed explanation-3: -One way to predict future sales figures is a method called quantitative sales forecasting. It’s a data-based mathematical process, based on historical sales data, that allows businesses to predict future revenue, and therefore make informed decisions and plan future sales strategies.

Detailed explanation-4: -What is quantitative forecasting? Quantitative forecasting is an objective, data-based process that businesses and salespeople can use to make accurate predictions to guide future business decisions.

Detailed explanation-5: -Quantitative forecasts This forecasting method depends on numerical and statistical methods, such as regression and time series analysis. Quantitative forecasting uses objective data and current trends to forecast future behavior.

There is 1 question to complete.