Question

To help with hiring decisions during peak seasons and holidays, Cards for All Seasons uses time-series forecasts, like sales from last Valentine’s Day and Christmas, to predict future sales based on patterns of historical data. This defines ____
A) A seasonal trendB) A trend decision C) DiagnosisD) AnalyticsE) A logical system

Answer 1

Answer:

B) A Trend Decision

Explanation:

Trend decision is also known as Trend forecasting. It is a complicated and useful way in which data of past sales is used to determine future trends. It is generally used by marketing experts to determine future sales growth. It can be used in different areas of a business.

An example of the use of trend forecasting is the fashion industry. Since customers change their purchasing behavior rapidly, so a particular garment becomes popular for one season and then it goes out of fashion. Fashion forecasters use trend forecasting to predict the trends by including the work designers and the early adoption of a trend among the people