Different Forecasting Analysis Methods in SPSS

Different Forecasting Analysis Methods in SPSS

SPSS data analysis is considered one of the best suitable software programs for predictive forecasting where every type of forecasting, whether in the academic or business field. The SPSS data analysis program integrates with IBM SPSS Statistics with the capabilities and features to support forecasting. In the business field, predictive forecasting data analysis helps in developing business activities and managing future strategic plans, which affect a set of few of the operational and organisational areas upon which this forecasting has a huge impact on sales and profit and losses.

Conclusion

The forecasting practice is based on the projected business demands of the organisational products and services they offer their customers. To perform the forecasting data analysis, the SPSS data analysis is considered one of the best suitable software programs for predictive forecasting where every type of forecasting, whether in the academic or business field. There is not only one type of forecasting involved, but it has various techniques. Three categories of data forecasting analysis exist – Time Series Analysis methods, Qualitative Forecasting techniques, and Causal Forecasting models. Under these categories, there are many other techniques also – Market Research, Trend Projections, Visionary Forecasting, Naive Method, Input-output Model, Econometric Model, Moving Average, Exponential Smoothing, Life Cycle Analysis, Regression Model, and Delphi Method, Historical Analogy, Drift Method and Box-Jenkins.