Predicting that an event will happen, to a defined extent, and sometimes with a defined probability. For example "there's a 50-50 chance that at least 1 millimetre of rain will fall in this area tomorrow" is a forecast. Forecasts are usually applied to short-term futures - no more than a few years ahead. A forecast is considered to be less certain than prediction, but more certain than conjecture or anticipation.
The process of estimating future demand by anticipating what buyers are likely to do under a given set of marketing conditions (e.g. economic confidence, disposal income, pricing levels)
Method for extrapolating the future from analysis of available data of the past. Most often applied in statistical analysis of time series.
Predicting sales and use of products so the correct amounts can be obtained.
Participants are presented a scenario, simulation, or situation and then asked what should happen next, what would they do next? The participants are expected to "predict" the future by explaining what will develop.
process used to predict the style or production needs for the future often using market trends and past sales data
a statement made about the future
Seeks to predict levels of weekly or monthly product activity over a time horizon, typically two years. The statistical methods proven to make such predictions have been used by manufacturers and distributors since the advent of MRP II systems. More complex forms of forecasting also have become available to manufacturers and distributors of products. These systems use neural processing to determine and predict the effect cause, or event-driven; factors have on demand. Factors may include consumer-goods related data such as pricing policies, promotions, and competitor's pricing, as well as macroeconomic indicators such as gross domestic product or new housing starts within a given time period.
Estimating the quantity of each FP and/or other products that will be dispensed to clients during some future period.
Financial forecasting is the process of estimating future financial performance. The projected financial performance of a business is measured by using pro-forma financial statements as well as other indicators such as trend analysis, ratio analysis, and return on equity. Forecasting often takes a higher-level viewpoint than the related activity of budgeting. In broader terms, forecasting can also refer to estimates of broad economic activity in a country, industry, or financial area. For instance, analysts and economists release forecasts of where interest rates or stock market prices might go in the future.
the act of using some defined method of projecting the future value(s) of a data series
The process of estimating or calculating electricity load or resource production requirements at some point in the future.
Making projections about future performance on the basis of historical and current conditions data.
Estimation of future phenomena, such as customer demand, transit times, seasonal usage of product, etc. Forecasts are used for long-term, mid range, and short term purposes.
Predicting the future, usually in sales or trends
Predict the future trends by analyzing the present and historical information available
To predict or project a future outcome.
A process to estimate a customer's future consumption needs for some future time period.
In ceophysical fluid dynamics, the art of predicting future states of the atmosphere or ocean through computer models (numerical forecasting), through projection of observed trends (persistence forecasting), or through comparisons with prior epochs (scenario forecasting).
The act of estimating future business operations.
Estimating the likelihood of an event taking place in the future, based on available data from the past.
The calculation of reasonable probabilities about a business' financial future.
A prediction of future requirements
Predicting quantities of food to produce based on historical data.
An estimate of future events based on present knowledge, facts, theory, and judgment. Numerous real estate associations and organizations are constantly forecasting what lies ahead for their particular membership.
Assessing the magnitude that a quantity will assume at some future point in time, as distinct from ''estimation,'' which attempts to assess the magnitude of an already existent quantity.
With regard to appraisal, when producing a reconstructed operating statement, it is the process an appraiser uses to project or estimate the annual expenses for an income producing property.
Systems that predict levels of weekly or monthly product activity over a time horizon, typically two years. General availability of PCs and user-friendly application programs mean forecasting can be done by educated generalists, particularly those with the best understanding of the factors impacting demand.
The process of analyzing current and historical data to determine future trends.
A business analysis conducted in order to assess what future trends are likely to happen, especially in connection with a particular situation, function, practice or process that is likely to affect the organization's business operations.
Forecasting is the process of estimation in unknown situations. Prediction is a similar, but more general term, and usually refers to estimation of time series, cross-sectional or longitudinal data.
