CIMA BA1 Syllabus C. Informational Context Of Business - Time Series Analysis - Notes 7 / 10
Advantages & Disadvantages
Advantages of Time Series Analysis
it is useful when forecasting data which has a regular seasonal pattern as may be the case with sales of certain products
it is a rather simplistic approach
Disadvantages of Time Series Analysis
it assumes that past trends will continue indefinitely and that extrapolating data based on historic information will give valid conclusions.
In reality, the sales of products may be influenced by the actions of competitors, particularly in relation to new products becoming available on the market.
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Syllabus C. Informational Context Of Business
C2. Uses of big data and analytics for understanding the business context
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Syllabus C. Informational Context Of Business
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