Operations Forecasting, business and finance homework help

User Generated

znlnoryyn96

Business Finance

Description

Operations Forecasting

Purpose of Assignment

The purpose of this assignment is for students to learn how to apply Operations Forecasting.

Assignment Steps

Resources: Microsoft® Excel®

Select a business operations dataset from the internet or other sources which can be used for forecasting in the University Library.

Develop a minimum of three quantitative forecasts using Microsoft® Excel®.

Compare and contrast each quantitative forecast you develop.

Choose the one forecast you determine would be the best for the firm and be prepared to explain why you chose this.

Evaluate the impact this forecast would have on the firm from a financial metrics standpoint.

Develop a 700-word report in which you describe your forecasting project including details on all the assignment steps.

Unformatted Attachment Preview

Operations Forecasting Purpose of Assignment The purpose of this assignment is for students to learn how to apply Operations Forecasting. Assignment Steps Resources: Microsoft® Excel® Select a business operations dataset from the internet or other sources which can be used for forecasting in the University Library. Develop a minimum of three quantitative forecasts using Microsoft® Excel®. Compare and contrast each quantitative forecast you develop. Choose the one forecast you determine would be the best for the firm and be prepared to explain why you chose this. Evaluate the impact this forecast would have on the firm from a financial metrics standpoint. Develop a 700-word report in which you describe your forecasting project including details on all the assignment steps. Individual Assignment: Operations Forecasting Purpose of Assignment The purpose of this assignment is for students to learn how to apply Operations Forecasting. Resources Required Microsoft® Excel® Content Selected a business operations dataset from the internet or other sources which can be used for forecasting in the University Library. Developed a minimum of three quantitative forecasts using Microsoft® Excel®. Compared and contrasted each quantitative forecast developed. Chose the one forecast determined to be the best for the firm and be prepared to explain why you chose this. Evaluated the impact this forecast would have on the firm from a financial metrics standpoint. Met Partially Met Not Met Comments: Content Met Partially Met Not Met Total Available Total Earned 5 #/5 Partially Met Not Met Total Available Total Earned 2 #/2 7 #/7 Comments: Developed a 700-word report describing your Forecasting Project including details on all the assignment steps. Writing Guidelines Met The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments:
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

hey, i have submitted he work, kindly confirm, thank you.

Running head: OPERATIONAL FORECASTING

Operational forecasting
Name
Institution
Date

OPERATIONAL FORECASTING
Operational forecasting involves approximation or prediction of future positions in
business operations such as expenditures, sales, and profits. Forecasting tools have progressed to
be priceless tools used in business planning and predictions as businesses and people are able to
antedate future economic inclinations from a data-driven standing point. Operational forecasts,
therefore, aid business organizations and people in adapting to changing business environment.
Forecasting methods can either be qualitative or quantitative depending on the situations to be
analyzed. Qualitative methods are biased in nature in that they are based on specialist’s
judgments, intuition, opinions, personal experiences or emotions. Conversely, quantitative
methods are objective in nature as they entail analyzing data by use of mathematical models
(Makridakis, Wheelwright, & Hyndman, 2008). This paper concentrates on the quantitative
forecasting methods in the business operation of Starbucks-US Company.
Quantitative methods eliminate human element out of analysis and in its place make use
of numerical proofs and figures as well as past observations to forecast future trends. The
forecasting methods include; simple regression analysis, simple moving average, polynomial
regression analysis among others.
Comparing the quantitative forecast
In comparing the three quantitative forecasting techniques, we consider the operation data
set for Starbucks-US Company which includes the average weekly customer-mobile transactions
in the four weeks of 2013, 2014 and 2015 month of March....


Anonymous
I was struggling with this subject, and this helped me a ton!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags