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Comprehensive Analysis of a Company's Activity by Means of Statistical Modeling as Support for its Decision-Making System Cover

Comprehensive Analysis of a Company's Activity by Means of Statistical Modeling as Support for its Decision-Making System

Open Access
|Mar 2021

Abstract

An important role in ensuring effective forms of management and increasing competitiveness is played by the process of forecasting the activity of the enterprise. This work analyzed the performance of a food industry enterprise, for which a wide range of statistical methods were applied such as methods of cluster, correlational and regression analysis, statistical tests of Fisher, Student, Farrar-Glauber, Durbin-Watson, Goldfeld-Quandt, μ-criterion, multifactor regression, trend, auto-regression models, and models of seasonal fluctuations, which provided a view of the economic properties of the enterprise profit process, in particular the auto-regression component of revenue dependence on its value last year, seasonal quarterly dependence on sales and marketing costs, product price, etc. The detected patterns will allow us to take into account these features for forecasting future revenues and for adjusting the enterprise’s decision-making system taking into account seasonal features and results of the previous year.

Language: English
Page range: 62 - 69
Submitted on: Jan 14, 2021
Accepted on: Mar 20, 2021
Published on: Mar 31, 2021
Published by: University of Information Technology and Management in Rzeszow
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2021 Janusz Soboń, Natalia Burkina, Kostiantyn Sapun, Ruslana Seleznova, published by University of Information Technology and Management in Rzeszow
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.