You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S. economy.
Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?

Question

Quizplus · Accepted Answer

To enhance the accuracy of the regression model's forecasts, having quantitative data about the company's historical sales and U.S. economic performance statistics is crucial. This data will allow for the model to identify patterns and relationships between sales and the economy and make predictions based on that information. While qualitative data about the sales force or marketing environment may be useful for other aspects of the company's operations, it is not as necessary for improving the accuracy of the sales forecasting model.

You Are Working with the Data Scientist from Your Sales