FORECASTING NEW PRODUCT SALES

• Main Authors: R. Siriram, D.R. Snaddon
• Format: Article
• Language: English
• Published: Stellenbosch University 2012-01-01
• Series: South African Journal of Industrial Engineering
• Online Access: http://sajie.journals.ac.za/pub/article/view/72
• ISSN: 1012-277X; 2224-7890

<p>ENGLISH ABSTRACT: This paper tests the accuracy of using Linear regression, Logistics regression, and Bass curves in selected new product rollouts, based on sales data. The selected new products come from the electronics and electrical engineering and information and communications technology industries. The eight selected products are: electronic switchgear, electric motors, supervisory control and data acquisition systems, programmable logic controllers, cell phones, wireless modules, routers, and antennas. We compare the Linear regression, Logistics regression and Bass curves with respect to forecasting using analysis of variance. The accuracy of these three curves is studied and conclusions are drawn. We use an expert panel to compare the different curves and provide lessons for managers to improve forecasting new product sales. In addition, comparison between the two industries is drawn, and areas for further research are indicated.</p><p>AFRIKAANSE OPSOMMING: Hierdie artikel toets die akkuraatheid van die gebruik van linêere regressie, logistiese regressie en Bass-krommes by die bekendstelling van nuwe produkte gebaseer op verkoopsdata. Die geselekteerde nuwe produkte is uit die elektriese en elektroniese asook informasietegnologie- en kommunikasie bedrywe. Linêere regressie, logistiese regressie en Bass-krommes word vergelyk ten opsigte van vooruitskatting deur variansie te ontleed. Die akkuraatheid word ontleed en gevolgtrekkings gemaak. Die doel is om vooruitskatting van nuwe produkverkope te verbeter.</p>