Which of the following represents a lagging indicator?

A lagging indicator is a metric that reflects the results of past actions or performance, providing insights that are only visible after the fact. Customer feedback received post-purchase is a clear example of a lagging indicator because it pertains to the evaluation and satisfaction of customers once a transaction has already taken place. This type of feedback allows a business to assess how well it performed in meeting customer expectations after the sale, rather than predicting future occurrences.

In contrast, the other options are considered leading indicators as they focus on projections or plans for the future. Sales forecasts for the next quarter, employee training hours scheduled, and predicted market trends pertain to anticipated outcomes or proactive strategies that a business may implement. These indicators are influential for planning purposes but do not provide a direct measure of previous performance, making them fundamentally different from lagging indicators like customer feedback.