latest meaning of forecasting disaster
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When prediction of result of a major event goes totally wrong, it is known as a forecasting disaster. Forecasting disasters happen when data used to forecast is very outdated, when the wrong method of forecasting is used or in certain cases, total upsets – when the result did not follow any pattern or trend.
Forecasting is prediction of future events or results, based on historical data and past trends. These days weather, sales of goods and services, future trends, election results etc. are all forecast in advance by Subject-Matter-Experts (SMEs).
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