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sis is the primary sales analysis technique at AB2023/3/4 2 O:/Network/Path/Time Series Analysis? What is Time Series Analysis?? How are Time Series plots developed?? What are the advantages of Time Series Analysis?? What are Time Series used for?2023/3/4 3 O:/Network/Path/What is Time Series Analysis ? ? Time series analysis is a statistical technique used to analyze and monitor sales volume over time.2023/3/4 4 O:/Network/Path/Why Time Series ?? Beer sales are highly seasonal? It is very difficult to evaluate monthly sales over time.2023/3/4 5 O:/Network/Path/How do time series work? ? Monthly variation in sales is caused by two major factors– Seasonality– Selling Days (calendar effects)? Time Series technique statistically removes the effects of these two factors? Time Series technique uses the X11 procedure for seasonal adjustments– The X11 procedure was developed by the . Bureau of Census in the 1950’s. It was brought to AB in the early 1960’s and has bee the standard for reporting sales.2023/3/4 6 O:/Network/Path/How do time series adjust sales ? ? A selling day adjustment factor for each month is puted and applied to the raw sales – This factor allows you to pare months as if they had the same number of selling days … . accurately pare the June this year vs. June last year? A seasonal factor is puted and applied to the selling day adjusted sales – This factor, when applied, gives you monthly data directly parable to any other month … . accu