Data Model

This is a type of forecasting tool.

A data model tries to simulate how something will change when you make certain adjustments to the data.

For example, imagine you are setting up a company and you want to understand the effects that Price, Cost and 'Items Sold' have on the overall profits of the company. You may set up a data model that links these things together. You then adjust 'Items Sold' to see the effect it has, and so on.

Challenge see if you can find out one extra fact on this topic that we haven't already told you

Click on this link: Data Model


back to glossaryback to glossary