Description

Forecasting is the process of making predictions of the future based on past, present data and analysis of trends. Sales forecasting is the ability to forecast future sales base on past months sales. Sales forecasting system uses several proven models such as qualitative versus quantitative model, average approach model, casual /econometrics forecasting model, linear regression model etc., these model are proven models used over the years by different financial institutions

This research work will provide a reliable way of handling sales and sales forecasting using linear regression model to forecast sales in and financial institution. Furthermore, it will aids structural document representation and eliminates the tedium of performing monotonous transaction. This research will also contribute to existing literature in this area and will serve as a guild or blueprint for an undergraduate student.

               In view of the problems mentioned above, this project is aimed at implementing a sales forecasting system using linear regression model and with an added Point Of Sale system. The objectives includes

·        Manage and forecast sales

·        To Automate customer, product, supplier management on the system

·        Manage system access and roles on the system

·        Manage every users of the system

THE MODEL

The formula for a simple linear regression (y = a + bx). The "y" is the value we are trying to forecast, the "b" is the slope of the regression, the "x" is the value of our independent value, and the "a" represents the y-intercept. The regression equation simply describes the relationship between the dependent variable (y) and the independent variable (x).

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