Trend Analysis of Sales of Marble Product in Glister Success (Nig.) Ltd., Ilorin, Nigeria using Exponential Smoothing Method

  • KJ Olatunji

Abstract

Marketing models are important in analyses and forecasting of performance of mineral markets. The sale trend of the past can be extrapolated into the future. This study sourced the sales of marble chipping in tons in Glister Success Ltd, Ilorin and modeled its performance in order to evaluate the performance of marble market and make future forecast. Record of sales of the company for months was consulted; exponential smoothing method of trend analysis and forecasting was used for creation of sales model and forecasting. The calculations and modeling were done with the aid of Microsoft excel program. The resulting model shows sales performance and useful in forecasting sales. The forecast model shows that the forecast value is not over bloated against the actual value. The resulting model of the ‘forecast sales’ is hereby recommend for planning production for future sales in the establishment.

Keywords: mineral, model, marble, exponential, forecasting

Nigerian Journal of Technological Research, 8(2), 2013

Author Biography

KJ Olatunji
Mineral Resources Engineering Department, Kwara State Polytechnic, Ilorin, Nigeria
Published
2013-11-09
Section
Articles

Journal Identifiers


eISSN:
print ISSN: 0795-5111