What method involves determining the statistical relationship between multiple independent variables and a single dependent variable for revenue forecasting?

The method that involves determining the statistical relationship between multiple independent variables and a single dependent variable for revenue forecasting is multivariate regression. This technique allows analysts to understand how the various independent variables interact and impact the dependent variable—in this case, revenue. By using multivariate regression, practitioners can create a more nuanced and accurate forecast that takes into account the interplay of different factors that could influence revenue generation.

Multivariate regression goes a step further than simple regression by considering multiple predictors instead of just one. This enables better forecasting accuracy since real-world revenue often depends on various elements, such as economic indicators, demographic trends, and different service levels.

While regression analysis forecasting is related and often includes multivariate regression as one of its methods, the specific focus on multiple independent factors inherently aligns with the definition of multivariate regression. This distinction is essential when pinpointing the method used specifically for analyzing multiple variables in revenue forecasting.