Discuss, giving your justifications, which time series forecasting techniques are appropriate for producing forecasts with this data set.

By early 1997, another 46 outlets had been established in eight countries outside the African continent, including Portugal, Australia, the United Kingdom, Israel and Canada. The majority of these outlets were established by bringing in local partners, mostly by the use of franchising. When exchange controls began to relax in the mid-1990s, Nando’s began to take a direct equity holding in those countries. This was seen as essential to facilitating Nando’s international ambitions and providing ideal support to maintaining the ‘Nando’s Way’ of doing business.
Assume you are the Sales Director at Nando’s International Holdings. You are
required to prepare a report for the Board of Directors on the following:

1. Describe the historical data on Nando’s sales, including a discussion of the general direction of sales and any seasonal tendencies that might be occurring.
2. Discuss, giving your justifications, which time series forecasting techniques are appropriate for producing forecasts with this data set.
3. Apply the appropriate forecasting techniques and compare the models based on ex post forecasts. Choose the best model.
4. Use your chosen forecasting model to generate forecasts for each of the months in year 2021.
5. Discuss how these forecasts might be integrated into the planning operations and policy makings in NIH.