The analysts at Brittos, a brand of ice-cream, recently were asked to assess revenue generated over the past five years to observe seasonal and historical trends. After extensive analysis, they arrive at the conclusion that the sales were highest during the months of July and August, the summer months in the country, and an all-time low during January, the peak of winter. Which of the following tools would have best helped them arrive at the above conclusion?
A) goal seeking analysis
B) forecasting
C) market basket analysis
D) what-if analysis

Question

Quizplus · Accepted Answer

Forecasting would have been the best tool to help arrive at the conclusion as it involves analyzing historical data to predict future trends. By using forecasting techniques such as time series analysis, the analysts could have identified the seasonal patterns of ice-cream sales and predicted future sales based on this data. Goal seeking analysis, market basket analysis, and what-if analysis do not necessarily involve historical data and would not have helped to identify the seasonal trends observed by the analysts.

The Analysts at Brittos, a Brand of Ice-Cream, Recently Were