A Consulting Opportunity in Any Area of Commercial Essay

A Consulting Opportunity in Any Area of Commercial - Essay Example The researcher states that organizations invest in business aspects that would profess in terms of sales. In this sense, businesses invest in such research during emergencies. It is vital to highlight that sales projection would best occur at all periods of a business. In the traditional context, revenue projections and cash flows are viewed as the key controls for managing a business. However, the sales forecast is a vital management of other figures to business. It becomes a critical point of initiating ventures in an existing business. In sales forecasting, consultancy would achieve a different route since it relies on accurate data. This creates a necessity for having a consultancy system that calculates data for a given piece of advice. For established businesses, the consultancy project would help in identifying prior years’ figures that are vital for drafting a sales forecast. This considers the sales’ growth expectations. On the other hand, small businesses woul d necessitate scenarios of studying the industry. This would relate to a compilation of consumers’ profiles and understand the existing and the expected competition. In the end, the consultancy would help in striking the sense of making sales’ projections. It also aims at heralding sales forecasting as a less cryptic endeavor. This is a time series methodology of establishing a sales’ projection according to a manifesting pattern from the earlier period sales. Another method relates to the regression analysis method. This method also utilizes historical sales as a basis for predicting future sales. In this sense, the forecaster strives to foster a relationship between the sales and the independent variables. Autonomous variables encompass the GDP and population. In simple regression analysis, forecasting involves the use of one independent variable. Conversely, multiple regression analysis would entail the employment of two or more independent variables.