About Small Business Forecasting & Modeling
Free online resources to help small and medium businesses measure the impact of internal business decisions as well as the consequences of outside macro and micro economic factors. Ultimately the goal is to create a stable and realist econometric model to forecast your sales.
Why Econometric Modeling is important to your Business?
- It shows the "Quantitative Impact" of events only describe qualitatively. Determining how sales are related to a number of economic and demographic variables, how output rate depends on the number of workers, how advertising affects sales,...Ultimately those models are used for forecasting sales of your services or products in the future. Sales Forecasting is part, and normally involve other fields such as Business Analytics, Supply Chain Management, Inventory Planning, Business Intelligence, many words that only take full specifications if the scale of your company permit, the bottom line of this free guide is improve the efficiency of you small business by helping you understand what affects your wholesales/retail sales, get more customers and plan ahead when more demand for your products or services arrives.
- A statistically correct and effective model requires preparation, time, the right data and a fairly good understanding of the theoretical background and the correct software package. We hope that this free online resources will help you achieving this goal. For the US Government, a small business employs 500 people or less, so this guide can help many of us!