Question

what do u think NCB's forecasting approach was more effective than a traditional time series forecasting model based or historical demand?​

Answer 1

Answer:

There are three basic types—qualitative techniques, time series analysis and projection, and causal models.Time Series Analysis is used to determine a good model that can be used to forecast business metrics such as stock market price, sales, turnover, and more. It allows management to understand timely patterns in data and analyze trends in business metrics.Objectives of Demand Forecasting include Financial planning, Pricing policy, Manufacturing policy, Sales, and Marketing planning, Capacity planning and expansion, Manpower planning and Capital expenditure.