engleski

Growth models

Growth models are widely used for time series data analysis and forecasting of a future growth which is important for optimal planning of resources, investments, revenue, marketing and sales. This Chapter deals with models for S-shaped bounded growth giving the overview of the most suitable ones for the first phase and later phases of product/service life cycle, methods for model parameters determination and measures for the forecasting accuracy. Presented models are mainly based on the logistic and Bass model adapted in a way to accept judgementally determined environmental variables and information from business operations as explanatory model parameters. Moreover, auxiliary parameters are introduced into models to enable adjusting the model to the specific practical requirements.

S-shaped growth models; Quantitative forecasting; Explanatory model parameters

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