Spread Knowledge

Virtual University of Pakistan Video Lectures, Handouts, PPT, Quizzes, Assignments & Papers

MGT613 - Production / Operations Management - Lecture Handout 09

User Rating:  / 0

Related Content: MGT613 - VU Lectures, Handouts, PPT Slides, Assignments, Quizzes, Papers & Books of Production & Operations Management

FORECASTING-II

Time Series Forecasts

  • Trend - long-term upward or downward movement in data often relates to population shifts, changing incomes, and cultural changes.
  • Seasonality - short-term fairly regular variations in data related to factors like weather, festive holidays and vacations. Mostly experienced by supermarkets, restaurants, theatres, theme parks.
  • Cycle – wavelike variations of more than one year’s duration these occurs because of political, economic and even agricultural conditions
  • Irregular variations - caused by unusual circumstances such as severe weathers, earthquakes, worker strikes, or major change in product or service. They do not capture or reflect the true behavior of a variable and can distort the overall picture. These should be identified and removed from the data.
  • Random variations - caused by chance and are in reality are the residual variations that remain after the other behaviors have been identified and accounted for.
    Forecast Variations

Techniques for Averaging

  • Moving average
  • Weighted moving average
  • Exponential smoothing
  1. Moving average – A technique that averages a number of recent actual values, updated as new values become available.
  2. Weighted moving average – More recent values in a series are given more weight in computing the forecast.

  3. Read more: MGT613 - Production / Operations Management - Lecture Handout 09

CS403 - Database Management Systems - Lecture Handout 40

User Rating:  / 0

Related Content: CS403 - VU Lectures, Handouts, PPT Slides, Assignments, Quizzes, Papers & Books of Database Management Systems

Overview of Lecture

  • Introduction to Views
  • Views, Data Independence, Security
  • Choosing a Vertical and Horizontal Subset of a Table
  • A View Using Two Tables
  • A View of a View
  • A View Using a Function
  • Updates on Views

Views

Views are generally used to focus, simplify, and customize the perception each user has of the database. Views can be used as security mechanisms by allowing users to access data through the view, without granting the users permissions to directly access the underlying base tables of the view.

To Focus on Specific Data

Views allow users to focus on specific data that interests them and on the specific tasks for which they are responsible. Unnecessary data can be left out of the view. This also increases the security of the data because users can see only the data that is defined in the view and not the data in the underlying table.

Read more: CS403 - Database Management Systems - Lecture Handout 40