Question

What do you mean by forecasting? explain about its uses and limitations?

Answer 1

hyy..

⭐Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends.
⭐uses and limitations--
The time frame for a sales forecast varies from a week or month to a year or more. The two major types of forecasts are qualitative and quantitative. A qualitative forecast uses information from sales staff and other sources
⭐limitation--
Qualitative forecasting often gets information from different departments of a business, such as the sales force, and even from the product's customers. Employees who do not cooperate across departments or employees with strong opinions can skew the results

hope it helps

Answer 2

Forecasting, its uses and limitations.

Explanation:

• Forecasts are making the predictions for the future that are based on the past data and are done commonly by the use of the analysis of the trends.

• A common example is of the estimation of the variable interest s at the future dates.  

• Other method employed are the time series and cross-section. The concept of risk and uncertainty are central focus to the forecasting it indicates the degree to which the data must be forecasted.

• Other most common methods of forecasts used are the Judgemental methods, that includes the incorporation of the initiative judgements,  and opinions and includes the composite forecast, Delphi method, statistical surveys and technological forecasting.

• Use if the forecasting is done in a wide range of disciplines and fields as climate change, Customer demand planning, forecasting the foreign exchanges, supply chain management etc.

• Certain limitations are there as events s lottery cannot be predicted or forecasted in advance also the fluctuations of the exchange rates, issues like the cybersecurity, etc reduce the forecast accuracy.

Learn more about the mean by forecasting and about its uses and limitations.

• brainly.in/question/3369859 answered by Gaurav249.