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Why is it that large scale businesses are always ahead of small scale businesses? One could argue that they have more resources as compared to small scale businesses but this is not the entire story. The reason behind the success of these large scale businesses is their strategic planning. Most small scale businesses do not feel the need to plan ten years ahead in time and this is why they are unable to predict changing consumer patterns which influence sales. Large scale businesses on the other hand have teams dedicated to this sole purpose, they engage in processes like demand forecasting, sales forecasting, customer preferences, economic analysis, industry analysis, competitor analysis and most importantly historical analysis. It wouldn’t be wrong to say that most of these analyses require a lot of hard work, human resources as well as financial resources but there is one kind of analysis, that is, historical analysis that can be easily performed by small scale businesses.

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