Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Forecasting is the process of predicting the future based on the past data. Typically, forecasting uses the statistical technique employing different methods such as time series, moving average, linear regression and exponential smoothing. The study uses the 15-year dataset of IBM (International Business Machine) revenues from 1999 to 2016 fiscal years. The study collects large dataset because of the larger the dataset, the better the accuracy of the results.The researcher collects revenue data of the IBM between 1999 and 2016 from the Statista (2016) website, and the dataset used for the analysis is as follow:
Revenue ($Billion)
Different methods are used for the forecast. The linear regression, exponential smoothing and moving average are used for analysis.
Linear Regression
The linear regression is the forecasting technique that assists in enhancing the relationship between dependent and independent variables. The benefits of the linear regression is that it assists in providing accurate results if large data are obtained. The study uses the data in Table 1 to produce revenue forecast using the Linear regression technique. The output is revealed in fig 1.
Fig 1: Linear Regression Forecasting
SUMMARY OUTPUT
Regression Statistics
Multiple R
0,24
R...
0,24
R Square
0,06
Adjusted R Square
0,00
Standard Error
5,34
Observations
18,00
ANOVA
df
SS
MS
F
Significance F
Regression
1,00
28,93
28,93
1,02
0,33
Residual
16,00
455,57
28,47
Total
17,00
484,50
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Lower 95,0%
Upper 95,0%
Intercept
1992,97
14,47
137,69
0,00
1962,28
2023,65
1962,28
2023,65
X Variable 1
0,16
0,16
1,01
0,33
-0,17
0,49
-0,17
0,49
Exponential Smoothing
The exponential smoothing is another forecasting technique used and the result is presented in Fig 2 and Table 2.
Fig 2: Exponential Smoothing Forecasting
Table 2: Forecast using Exponential Smoothing
Year
Revenue ($ Billion)
Forecast with Exponential Smoothing
1999
87,55
2000
88,4
2001
83,07
87,635
2002
81,19
87,867
2003
89,13
82,882
2004
96,29
81,984…
While this paper focuses on process-centric improvements to McCarran, the research completed for this paper highlights the critical need for an all-encompassing IT architecture that allows for data to support both processes as thoroughly as possible. Figure 3: Combining the Check-in and retailing processes for greater efficiency Luggage and Baggage Process Improvements Another major area of process improvement McCarran needed to focus on was luggage and baggage handling. The airport had been
Quality Management Tech. The nature of business is that of uncertainty. In many instances businesses must forecast or project many unknown factors affecting their underlying business operations. The impact of globalization has created an even more uncertain period in which business must now operate in. Aspects that pertain to one geographic region, due primarily to globalization, now create systemic effects in other regions. As such, management, through the use of
Software Engineering: What Makes it Run IBM and the Institute of Electrical and Electronic Engineers (IEEE) have collaborated to create the Software Engineering Online Learning Center, a portal of educational and industry information that is very useful for any student of computer science, programming or software engineering. The intent of this paper is to evaluate this portal for its applicability and value to learning. The portal is designed around IBM-centric content
Improvement of Supply Chain Management Tools and Processes for Ultimate Strategic Achievement of Success in Military and Civil Business Today, both public and private sector organisations of all sizes and types are faced with the same need to optimize their supply chain management processes to the maximum extent possible in order to achieve and sustain high levels of performance and productivity. Because supply chain management systems are frequently highly complex,
Michael Porter (Porter, 2008) b. The Offering The Libertad will be designed as a communications and collaboration platform, making the process of customizing its many features seamless within the production process. From a software standpoint, the foundation of the Libertad will be the Google Android operating system, customized to allow for easy integration of components and functional add-ons. The Google Android operating system is chosen as the basis of the offering
Whirlpool Whirl Pool Supply Chain Management Supply Chain Management Critical appraisal of Whirlpool's Supply Chain Management Company Overview Products and Services Critical review of Operations Contribution to business performance System Changes Changes in Internal Forecasting Process Business Performance Results Criteria for trade Partner Fit Competitive advantage Critical Evaluation of System Customer Centric-Supply Chain Management System Collaborative Supply Chain Whirlpool's production Current System Changes Planning and sourcing decisions Planning Sourcing Drawbacks of Whirlpool delivery system Inventory Delivery Factors for taking supply chain management decision Figure: Supply Chain Performance factors Gap Analysis Strategic partnership Integration Reduced Cost and Inventory Future trends