Business Forecasting Method
Business Forecasting Method
Consider you need to conduct a business forecast (choose any business with using table and number for analysis and evaluation). Describe your forecast process according to the steps listed below. Please make sure to describe all steps in the context of your problem. Your essay should have a minimum of 300 and a maximum of 800 words. You can make use of figures and/or charts as you see fit to help explaining your writing.
Steps are:
- Define the purpose of the forecast.
- Establish a time horizon.
- Select a forecasting technique.
- Gather and analyse relevant data.
- Perform the forecasting process.
- Evaluate the results.
