Question
In the context of data analysis, which of the following
best describes trend analysis?Solution
Trend analysis is essential in data analysis as it examines past data to uncover recurring patterns, making it possible to forecast future trends. Businesses apply trend analysis in various domains, such as sales forecasting, inventory management, and customer demand prediction. By understanding past behaviors, companies can adjust strategies and resource allocation to match anticipated trends, ensuring operational efficiency and market competitiveness. Option A is incorrect because aggregating data is part of data wrangling rather than trend analysis. Option C is incorrect as segmentation is aimed at dividing data into categories rather than analyzing historical patterns. Option D is incorrect since real-time monitoring is different from forecasting future trends. Option E is incorrect as trend analysis aims at future applicability, not just past evaluation.
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