BIAM 570 Week 4 Lab Application of Time Series Forecasting DeVry

In the realm of business, organizations are looking to make money and are also looking for ways to be the most efficient reducing cost so that profit margins continue to get better over time. Awareness of this is something we have all probably heard where time is money. So we have the need for time series forecasting and analysis, which are various forms of models that can help managers and leaders of organizations make a wide range of energetic managerial decisions successfully, where time and money are directly related leading to anticipated predictions. In an uncertain world, we will make decisions knowing there are uncertainties but knowing we have a history of data to work from, we can make good decisions with good anticipations.

After you are done, you will submit your completed Lab.