Question

Explain the meaning of business forecasting

Answer 1

Explanation:

Business forecasting is a method to predict the future, where the future is narrowly defined by economic conditions. It combines information gathered from past circumstances with an accurate picture of the present economy to predict future conditions for a business.

Answer 2

refers to techniques such as taking a prospective view of how the economy is likely to turn out in the short-term. Its use is critical for businesses whenever the future is uncertain. The more they can focus on the probable outcome, the more success the organization has as it moves forward.

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