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- Search about how different businesses are using the following techniques to estimate cost of different areas.– Regression analysisWhat do you understand by the term planningTake an organization of your choice and and give a brief description concerning: i. what it produces or sells ii. the industry it belongs to iii. the sector of the economy it belongs to iv. the government regulators in the sector 1. Conduct an environmental analysis for that organization i. Scan the organization's environment and identify at least 10 factors that affect the survival of the organization. ii. Monitor those factors (may be actual or based on assumed changes) iii. Forecast those factors into the next three years (assume how the factors will change in the next three years) iv. Do an assessment of the effects of the factors on the organization (how will those factors affect the organization in the next three veare and
- What is ABC Classification?In the current competitive retail business, traditional brick-mortar business model has slowly lost out to e-commerce. When trading is done online, it's important to understand customer buying patterns. In return, the ability to predict this pattern into potential marketing solutions to increase sales and profit. Business owners need to know their customers and understand their needs and behaviors. In current business settings, customers purchasing patterns are recorded within big data. Big data when adequately used serve good and formidable business competitive advantage. To do this, retailers use a technique called market basket analysis. Market basket analysis consists of analyzing large data sets that include purchase history, revealing product groupings, and products that are likely to be purchased together. The simulated case (see table 1) below illustrates a retail purchasing pattern for garments collected over 19 cluster retails. The recorded purchasing combination serves to…A business cycle consists of four states: peak,recession, trough, and recovery.