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Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends or an estimation of variable of interest at some specified future date.
Qualitative vs. quantitative methods
Average approach- predictions of all future values are equal to the mean of the past data
Naive approach
Drift method
Seasonal naïve approach
Time series methods
Causal / econometric forecasting methods
Judgmental methods.
gregorymasila answered the question on December 13, 2017 at 12:37
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