Running head: UNDERSTANDING BUSINESS DRIVERS AND IMPROVING FORECASTS1Understanding Business Drivers and Improving Business ForecastsNameInstitutionUNDERSTANDING BUSINESS DRIVERS AND IMPROVING BUSINESS FORECASTS2Understanding Business Drivers and Improving Business ForecastsForecasting is a crucial method for a company to prepare and analyze the venturing in thesales of a new product for the future years. To generate substantial sales, it is important for acompany to do proper planning before introducing a new product into the market. SinceWidgeCorp is planning on branching out into cold beverage business for the next year, it is nowtime to analyze a regression model to project the monthly and annual sales of the cold drink. Ihave also been tasked to evaluate variables that WidgeCorp require to factor in when forecastingthe monthly projections of the cold beverage products.A regression model for WidgeCorp must be a function that analysis how a variable (Y) islinked to another variable (X). Forecasting for WidgeCorps cold beverage products will beginwith various assumptions and estimation based on the experience, information, and results of theselected foreca ...
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