Truzan Creations, one of the leading names in the handicraft industry, recently launched a new artifact in the market. The company uses a database to store information on the number of products manufactured, the weekly sales, the list of suppliers, and the profits achieved. The process component of the information system is used to conduct analysis on the data to generate information about sales. Which can be used by Truzan Creations to generate predictions for its next sales period? A) Forecasting models

B) Estimation graphs

C) Modeling charts

D) Theoretical hypotheses

Question

Business

Fiona Blake

2 August, 13:18

Truzan Creations, one of the leading names in the handicraft industry, recently launched a new artifact in the market. The company uses a database to store information on the number of products manufactured, the weekly sales, the list of suppliers, and the profits achieved. The process component of the information system is used to conduct analysis on the data to generate information about sales. Which can be used by Truzan Creations to generate predictions for its next sales period? A) Forecasting models

B) Estimation graphs

C) Modeling charts

D) Theoretical hypotheses

+5

Answers (1)

Know the Answer?

Carl Pena · Answer 1

A) Forecasting models

Explanation:

Forecasting models -

It is the method of making prediction of the future, based on the data of the present and the past, and by analyzing the trends.

For example, the estimation of some variable of interest at for some future date.

Uncertainty and risk are the center of the forecasting, it is a good practice, which indicates the degree of uncertainty to forecasts.

Hence, from the data of the question, the correct answer is Forecasting models.