The forecasting method that utilizes a firm's historical sales data to find patterns in the firm's sales volume over time is
A) the regression method.
B) customer forecasting.
C) a market test.
D) sales force forecasting.
E) time series analysis.

Question

Quizplus · Accepted Answer

Time series analysis is a forecasting method that uses historical sales data to identify patterns and trends in a firm's sales over time. This method is particularly useful when forecasting sales for established products or services with consistent sales patterns. The other options, such as regression analysis, customer forecasting, market tests, and sales force forecasting, may also be used in forecasting sales but are not specifically focused on analyzing historical sales data over time.

The Forecasting Method That Utilizes a Firm's Historical Sales Data