What Is Trend Analysis

question 24

Multiple Choice

What is trend analysis?

• A) When numerical data are available, a trend can be plotted to display changes through time and into the future
• B) A trend is examined to identify its nature, causes, speed of development, and potential impacts
• C) Trends viewed as particularly important in a specific community, industry, or sector are carefully monitored, watched, and reported to key decision makers
• D) Complex systems can be modeled by means of mathematical equations and different scenarios can be run against the model to determine "what if" analysis

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Definitions:

Imitation

The action of using someone or something as a model and duplicating their behaviors, strategies, or products.

Innovation

The process of creating new ideas, products, or methods that bring about significant improvements or change.

Market Share

The share of a market dominated by a specific company or product.

Large Firm

A corporation or business entity that operates on a large scale, typically characterized by a significant number of employees, operations in many locations, and sizable market power.