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Explain why a business would typically use historical data for the generation of a forecast (SOP plan), rather than the planning method we used in a previous exercise, where we simply "typed in" sales values? What is the benefit of using the historical data as was shown in this exercise?

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Explain why a business would typically use historical data for the generation of a forecast (SOP plan), rather than the planning method we used in a previous exercise, where we simply "typed in" sales values? What is the benefit of using the historical data as was shown in this exercise?