Trend analysis is the practice of uncovering patterns in your data. In most organisations, trend analysis is used to monitor metrics and their development over time. As such, trend analysis relies on effective historical analysis. In simple terms performing trend analysis means using historical data in order to look for trends. If you consider a country’s economic development and you go back in history, you will notice stages of prosperity, recession, depression and recovery. The same applies for companies. Based on these historical analysis, you can make an estimation about the future of your company.
Some other related topics you might be interested to explore are Comparative Analysis, Value-Based Analysis, Correlation Analysis, and Time Series Analysis.
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