The Information For Light Weight Vehicle Sales Essay

891 Words Nov 2nd, 2016 4 Pages
The information for light weight vehicle sales not seasonal adjusted data from January 2013 to December 2014 shows that there could be seasonal fluctuations in vehicle sales (Light weight vehicle sales, n.d.). This information is important in trying to forecast what the next few months will be. While more data can complicate things, more data can be useful in determining trends or seasonality. There are a number of techniques that can be used in trying to determine what the future will bring. Depending on what the forecasted information will be used for, will depend on the method and accuracy to determine what the forecast will be. If there is not a lot of data available, qualitative techniques can be used. This method is typically based on judgement and opinion. This is getting the opinion of experts if there is not enough information (Putra, 2009). Another method of forecasting would be to use time series analysis. This is very helpful if there are many years’ worth of data. It is easier to spot trends with data for multiple years (Chambers, Mullick, Smith, 1971). With time series forecasting, there are four different characteristics that could show up in the information, trend, cyclical fluctuations, seasonal fluctuations, and irregular fluctuations (Keat, Young, Erfle, 2013). Trend can be a steady incline or decline over a period of time. Cyclical fluctuations are tied to economics, depending on the product, if the economy is doing well, then sales may do…

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