Application Of A Consultant For Excellent Consulting Group

1335 WordsApr 3, 20166 Pages
Purpose: Introduction/background of problem As a consultant for Excellent Consulting Group, we were tasked with developing and testing different forecasting techniques. In case study number three we utilized linear regression as a form of forecasting. The information used to test this assessment was gathered by our client who collected data on sales of one of its products, a lottery app for smart phones and hits on its website. This information was gathered over a 12-month period and includes the hits and sales for the corresponding months. The consulting manager at Excellent Consulting Group has requested we go the next step and analyze additional forecasting methods. As consultants we feel it is important to do a though job for our client, and us our expertise to analyze different forecasting methods. In this case we have decided to look at the sales data for client’s lottery app as a single data set and use a time series analysis, namely SES, single exponential smoothing. The simple exponential smoothing (SES) model is usually based on the premise that the level of time series should fluctuate about a constant level or change slowly over the time (Ostertagova & Ostertag, 2012). An excel spreadsheet and simple exponential smoothing will be utilized to help analyze the data. This method will help us compare linear forecasting and simple exponential smoothing forecasting method to determine method works best for our clients.
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