What type of analysis should be used to respond to the statement, "Let's cut advertising by $1000 repeatedly so we can see its relationship to sales"?

Question

Kaeden

Computers & Technology

18 January, 16:53

What type of analysis should be used to respond to the statement, "Let's cut advertising by $1000 repeatedly so we can see its relationship to sales"?

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Answers (1)

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Wesley Mckay · Answer 1

Sensitivity analysis.

Explanation:

Data analytics is a method of interpreting a large group of data, that predicts future outcomes or describe current situation of the company, for appropriate decision to be made. Analyzing data creates a flexible environment to change data to observe the resultant output.

Sensitivity analysis is used to analyse uncertain output by changing the input. It is used to ascertain if an output generated by a determined input can be desirable or considered.