1 REGRESSION ANALYSIS FOR FORECASTING INTRO 1

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=kILj1yv9foE

In this video tutorial Dr. Thomas Willemain, co–Founder and SVP Research at Smart Software, presents Regression Analysis, a specialized statistical modeling technique to identify and harness leading indicators to achieve more accurate forecasts. Housing starts, for example, might be a good leading indicator of vinyl siding demand. Regression analysis is a statistical technique for quantifying the relationship between variables. In simple regression analysis, there is one dependent variable (e.g. sales) to be forecast and one independent variable. The values of the independent variable are typically those assumed to cause or determine the values of the dependent variable. Thus, if we assume that the amount of advertising dollars spent on a product determines the amount of its sales, we could use regression analysis to quantify the precise nature of the relationship between advertising and sales. For forecasting purposes, knowing the quantified relationship between the variables allows us to provide forecasting estimates. Tom explains how and when to use regression analysis and works through a practical example. • • Improve Forecast Accuracy, Optimize Inventory, Maximize Service Levels. • https://smartcorp.com/

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