1
Q
What are the 4 types of data?
A
Quantative-data that can be measured with numbers
Qualitive-data that can’t be measured with numbers
Primary-data you gather yourself
Secondary-data that was gathered by someone else
2
Q
What is internal and external data?
A
Internal-within the company
External-outside of the company
3
Q
How can you forecast sales?
A
Sales experts-sales manager within the company
Market research-questionnaires and interviews with customers
Time series analysis-identifying patterns in the data
Linear aggression-using history to predict the future
4
Q
How can you forecast expenditure?
A
Production and purchasing experts
Market research
Time series analysis and linear aggression
Price indices-using predictions of the likely inflation to budget expenditure
