Define seasonal analysis with an example
Answers
Answer:
Seasonality refers to predictable changes that occur over a one-year period in a business or economy based on the seasons including calendar or commercial seasons. ... One example of a seasonal measure is retail sales, which typically sees higher spending during the fourth quarter of the calendar year.
Step-by-step explanation:
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Answer:
Seasonal analysis is when the demand of product or services fluctuate over a period for business entities.
Most of the seasonal fluctuations are predictable in those periods.
Explanation:
Seasonality fluctuations are to predictable changes that take place in a particular season. The business companies are able to plan their marketing strategies based on these seasonal changes.
The tourism industry is a good example of seasonal change analysis. The demand of tourism is greater in certain seasons and lesser in some. This can be seen and verified by the data of number of visitors visiting the places in different seasons
The companies are able to forecast their demand and supply of goods based on the data available for these seasonal changes which is a characteristic of a time series that experiences regular and predictable changes that come up every calendar year.