Business Forecasting and Sony Corporation Case Study by BrainC

This paper explains that one of the most important components of any successful business is the ability to make effective decisions regarding the future; this allows the business to anticipate sale,s thus gearing their business components toward these changing sales figures. The author points out that one of the most important assumptions of business forecasters is that the past acts as an important guide for the future, but this presents a problem in times of uncertainty. The paper states that both the Delphi technique and time series forecasting are valuable forecasting tools in the right circumstances. The Delphi technique is useful for short term forecasts; therefore, it is often a more valuable tool for business forecasting during conditions of uncertainty.