A Fortiori Analysis – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is an A Fortiori Analysis?A Fortiori analysis is an analysis done to deliberately favor other sets of solutions when compared to that which has already been declared to be the best. It helps one to extensively compare the benefits and limitations of other...

Bottom Up Forecasting – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is Bottom-up Forecasting?Bottom-up forecasting is a method of estimating future sales revenue. The process begins with estimating sales revenue of each product or product line. The number of potential sales per product is multiplied by the average sale value to...

Bracket Creep – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

What is Bracket Creep?The term Bracket Creep is used for describing a situation when inflation drives the wages and salaries into higher tax brackets. In effect, the taxpayers need to pay a higher tax without any increase in the real value of the wage of salary.How...

Brisch Classification – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is a Brisch Classification?Brisch is a coding or classification system used for inventory. It is based on numerical figures from 0 to 9 and usually has three blocks consisting of a total of six to eight digits. The blocks are separated by decimals and each block...

Bartlett’s Test (Statistics) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is Bartlett’s Test?The Bartlett’s Test is a method used in statistics to evaluate whether variances are similar or equal in the available samples. Bartlett’s Test statistics tests for equality of variances across population. Bartlett’s...

Bottleneck Principle – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is the Bottleneck Principle?The bottleneck principle, or a bottleneck, occurs when a system of production such as facility, machine, or equipment is overwhelmed by production to the extent that it cannot meet demands for more production. When there is congestion...

Brussels Tariff Nomenclature – Explained

by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations

What is the Brussels Tariff Nomenclature (BTN)?The Brussels Tariff Nomenclature (BTN) refers to a classification system for imported goods that was used internationally before 1976. BTN is a standardized system of classification for imported goods, it is used in the...

Box Jenkins Model – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is the Box Jenkins (B-J) Model?The Box-Jenkins Model is a mathematical model used for forecasting of data following specified time series. This model reflects predictable cycles, trends and patterns of time series data. The Box-Jenkins Model analyses and...

Bunker Adjustment Factor – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is a Bunker Adjustment Factor (BAF)?The Bunker Adjustment Factor (BAF) refers to a high-cost expense, payment, or surcharge to individuals shipping on ocean vessels. This is an additional charge to the base rate of ocean freight that reflects the costs of fuel...

Business Starts Index – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Business Starts Index?Typically, a Business Starts Index indicates growth or decline or economic trends peculiar to an economy at a particular period of time. Current financial patterns of an economy are evaluated by economists and lawmakers using the...