By taking a close look at the sales figures and other related data it is possible to predict what is going to become popular in the upcoming months or years. This analysis is known as trend analysis. Big companies take advantage of such analysis to create products that become popular within a short span of time. This is how they gain an edge over their competitors. Bigger the company, bigger the amount of data which in turn results in better analysis.
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5 Steps to Create a Trend Analysis Sheet in Google Docs
Step 1: Create the Cover Page
Though we are using Google Docs for the purpose, you can use any other Word processing software of your choice. The first thing to do would be creating the cover page. It does not have to be anything fancy. It can just be the title ‘Trend Analysis’ with the name, contact details, and address of the company written below it in small font size.
Step 2: Write the Overview
In the next section write down a general overview of the analysis you are about to perform. Include what you are trying to find and your methodology. It should give a clear idea as to what you are trying to do. This would help the person doing the analysis later to perform the analysis a second time and compare the results with this.
Step 3: Create Table
In the next step, we have to insert some tables. You can use any spreadsheet software like MS Excel or Google Sheets. If you want you can stick to Google Docs as well. Create as many columns necessary to dissect the information you have into the smallest possible data sets. This way it will be easier to make calculations.
Step 4: Data Visualization
Depending on the size of your company or what you are dealing with, you might need to deal with a huge amount of data and that too of different types. Constantly referring to the numbers and then comparing might seem like a tedious job which in turn would lead to inefficiency and errors. That is why data visualization is required. Use charts and graphs to show growth and decline.
Step 5: Draw Your Conclusion
As a trend analyst, your job is to make sense of the numbers and come up with a meaningful suggestion. That means that if you see a certain raw material is showing a decline in the number of orders received while at the same time an alternative material is showing growth in sales, it means that the company should invest more on the alternative.
5+ Trend Analysis Templates
1. Trend Analysis Template
Want to get an edge over the competition? You need to understand the trends to capitalize on them. This analysis template in Word should help you with that. You don’t have to do much. Just download and start editing it by putting the relevant data in the relevant places. The instructions for editing have been provided with the templates.
2. Trend Analysis Report Template
In business, you need to understand the trends if you need to remain in the competition. That is why we suggest that you download and open this analysis template in Pages. We have more such templates if you are looking for something with a slight variation. All our templates are equally easy to edit and customize.
3. Checklist Trend Analysis Template
If you are creating a trend analysis sheet, make sure you don’t miss anything. The easiest way to ensure that is a checklist like this one. So download this checklist trend analysis to get started. We have more such templates that will cater to your needs, irrespective of the type of business that you engage in.
4. Restaurant P&L Trend Analysis – Monthly Template
Creating an analysis report can be an extremely time-consuming process, especially if you are creating everything from scratch. Why don’t you try out this analysis template? It will greatly shorten the time you need to create one. We have several more analysis templates that should make your job easier.
5. Image Trend Analysis Template
If you have been asked to prepare a project on image trend analysis, then you might be wondering where to get the resources from. You don’t have to look much further than this site. We have a number of free analysis templates like the one here that you can download and start using for your work.
6. Statistical Trend Analysis Format
Preparing a statistical trend analysis, but unsure of what the correct format should be? Don’t worry. Just download this template in PDF and you should be good to go. We have more such templates that will not only help you to know more about these types of analysis but would also help you to make one from scratch.