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THE USE OF THE MATHEMATICAL METHODS IN PREDICTING SALES OF CONSTRUCTION COMPANIES

E. Ondruskova, E. Vitkova

First published: 2017https://doi.org/10.5593/sgemsocial2017/13/S03.091View metrics

Abstract

Achieving sales is an essential for long-term business activity on the market. Sales information represent a valuable source of information for business management and hence for its future managerial decisions. These decisions are essential to achieving the company strategic goals that are part of the long-term strategic management concept of the company - valued information concerns especially the sales and the expenses development. Development of sales company's values can be predicted to a certain extent by applying mathematical methods. If business management has predicted sales growth, it can adequately respond to this upcoming development. The aim of the paper is to perform the prediction of sales growth to selected construction companies using mathematical methods, such as time series method and regression analysis method. This prediction will be performed retrospectively when the prediction outputs will be compared to actual sales values of selected construction companies. Within the paper predicted sales development will be compared with values of actual reached sales. Based on the results of the paper, it is possible to conclude which mathematical method best describes the prediction of sales development.

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Publication details

Title
THE USE OF THE MATHEMATICAL METHODS IN PREDICTING SALES OF CONSTRUCTION COMPANIES
Authors
E. Ondruskova, E. Vitkova
Proceedings
4th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM 2017
Publisher
STEF92 Technology
Year
2017
Pages
727-734
SWS Citekey
Ondruskova20173727734
ISSN
2367-5659
ISBN
978-619-7408-15-7
Language
en
Publication type
Proceedings Paper
Keywords
companypredictionsalesmathematical methods
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