The Consumption Of Wine Consumption

1823 Words Nov 19th, 2014 8 Pages
1. Introduction

Forecasting is an essential part to all business as this support the direction the business will be heading. Looking through wine consumption through previous years will help forecast the future years. The consumption of wine is growing every year worldwide. Australia is the largest country that can produce red wines, white wines and other wines in every climate and soil type found (Australian Government, 2014, para. 14). This report will include a line graph showing the forecast total apparent consumption in terms of volume of beverage for 2006-2015, a line graph showing the forecast per capita consumption in litres, who and the purpose the forecast is being used, a line graph showing the centred moving average for the
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It shows that the actual volume of pure alcohol and the forecast is nearly the same. It has increased slightly a little but not dramatically. For the actual result of volume of beverage and the forecast it nearly the same as well, however the forecast increased in 2014 and 2015. In 2007 the forecast decreased.

4. Whom and the purpose the forecast is used

The forecast used in this wine consumption shows different trends in the future. Forecast is using previous data to determine the future information in the wine industry. Hence, forecasting is important as this can predict how much white table wine, red table wine, other wines and the total wine consumption for the future. An example can be liquor shops because they can use the forecast from the wine consumption to see how many wines are being bought from customers in the future as this can help the liquor shops determine how many wines they need to buy to supply for the customers. Also bars might like to look through the volume of pure alcohol and the consumption from customers to see how many they will need to purchase.
However, forecast is never accurate, it is an estimation of numbers for managers to look at so they have a number to look at so they can purchase the products but forecast is a number that is close to the actual result.
With forecasting the per capita consumption for wines, Australia’s government can use the results from

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