Automated Business Forecasting System Using Regression Analysis :- David, Chigozilem R

ABSTRACT

 The automated business forecasting system using regression analysis comes not only to increase speed of operation but to save the trouble of determining which method to use, and if applied assures the reliability ofsuch forecast. However, forecasting the market demand is a very critical step in planning all kinds of business including construction business. Hence, the study adopted the structured Analysis and Design Methodology (SSADM) as to achieve the above stated objectives and objectives ofthe study. This study was conducted to develop a robust regression model that enables business enterprises to predict the demand ofnew sales in Nigeria. The features of this package include ability to choose from the various quantitative forecasting techniques; ability to select the method by menus. The findings ofthe study concluded that forecasting is an integral part of all human activity, but from business point of view increasing attention is being given to formal forecasting systems which are continually being refined. And the purpose of forecasting is to reduce risk in decision- making. The study further recommended that using Nperiod moving average method a greater number of periods should be chosen if the underlying tread of past data is thought to be fairly constant with substantial randomness