Which of the following is an advantage of using the time-series analysis in sales forecasting?
A) It utilizes historical data when forecasting.
B) It consumes the least amount of time in forecasting.
C) It is a very subjective type of analysis.
D) It is most effective when forecasting new or innovative products.

Question

Quizplus · Accepted Answer

Time-series analysis utilizes historical data to identify patterns and trends, which can be used to forecast future sales. This is an advantage as it allows for a data-driven approach to forecasting rather than relying on subjective opinions or assumptions.

Which of the Following Is an Advantage of Using the Time-Series