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MODELING FUTURE REGIONAL SALES VOLUMES IN LITHUANIA, LATVIA, ESTONIA AND BULGARIA ON THE EXAMPLE OF RETAIL MAXIMA GRUPE
Abstract
Management of business risks - this is one of the cornerstones of any business. Without competent, qualified management of business risks cannot talk about any development or progress. What is extremely difficult without understanding the level of expected future sales. This study opens the possibility of using the dynamics of dependence (forecast) GDP and the volume of sales in the estimation of future regional sales in Latvia, Lithuania, Estonia and Bulgaria on the example of retail MAXIMA GRUPE. The study used cluster analysis methods, comparison, generalization, correlation and regression analysis. The results allow to predict future sales volumes, which allows professionals in the field of risk management to take appropriate and timely management decisions.
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References5
1. Michael Hammer, James A. Champy, HarperCollins, Reengineering the Corporation: A Manifesto for Business Revolution pp 84-87, 1993
2. Rafal Weron, Modeling and Forecasting Electricity Loads and Prices: A Statistical Approach pp 17-22, 2006
3. Maxim group, http://www.maximagrupe.eu/en/about-us/maxima-grupe-companies
4. Eurostat GDP http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=nama_10_gdp&lang=e
5. GDP growth http://ec.europa.eu/economy_finance/eu/forecasts/2015_spring_forecast_en.htm
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