What is forcasting write down the features, elements, advantages, limitation and types of forcaste?
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Forecasting:-
predict or estimate (a future event or trend).
forecasting elements:-
Forecasting elements use a variety of techniques to produce projected values by analyzing existing values. The future values they "predict" are, in most cases, added as rows or columns to a datalayer so the data can be displayed along with the existing data.
forecasting advantages:-
The primary advantage of forecasting is that it provides the business with valuable information that the business can use to make decisions about the future of the organization. In many cases forecasting uses qualitative data that depends on the judgment of experts.
Limitations of forecasting:-
Accurate forecasting helps you manage your supply chain, inventory, staffing levels, finances and more. Forecasting also has some limitations due to incorrect information from employees and customers and relying on past numbers which can be inaccurate if market conditions change unexpectedly.
types:-
TYPES OF FORECASTING METHODS
Forecasting methods can be classified into two groups: qualitativeand quantitative. Table 8-1 shows these two categories and their characteristics.
 Qualitative forecasting methods
Forecast is made subjectively by the forecaster.
Qualitative forecasting methods, often called judgmental methods, are methods in which the forecast is made subjectively by the forecaster. They are educated guesses by forecasters or experts based on intuition, knowledge, and experience. When you decide, based on your intuition, that a particular team is going to win a baseball game, you are making a qualitative forecast. Because qualitative methods are made by people, they are often biased. These biases can be related to personal motivation (“They are going to set my budget based on my forecast, so I'd better predict high.”), mood (“I feel lucky today!”), or conviction (“That pitcher can strike anybody out!”).
TABLE 8-1 Types of Forecasting Methods

 Quantitative forecasting methods
Forecast is based on mathematical modeling.
Quantitative forecasting methods, on the other hand, are based on mathematical modeling. Because they are mathematical, these methods are consistent.
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predict or estimate (a future event or trend).
forecasting elements:-
Forecasting elements use a variety of techniques to produce projected values by analyzing existing values. The future values they "predict" are, in most cases, added as rows or columns to a datalayer so the data can be displayed along with the existing data.
forecasting advantages:-
The primary advantage of forecasting is that it provides the business with valuable information that the business can use to make decisions about the future of the organization. In many cases forecasting uses qualitative data that depends on the judgment of experts.
Limitations of forecasting:-
Accurate forecasting helps you manage your supply chain, inventory, staffing levels, finances and more. Forecasting also has some limitations due to incorrect information from employees and customers and relying on past numbers which can be inaccurate if market conditions change unexpectedly.
types:-
TYPES OF FORECASTING METHODS
Forecasting methods can be classified into two groups: qualitativeand quantitative. Table 8-1 shows these two categories and their characteristics.
 Qualitative forecasting methods
Forecast is made subjectively by the forecaster.
Qualitative forecasting methods, often called judgmental methods, are methods in which the forecast is made subjectively by the forecaster. They are educated guesses by forecasters or experts based on intuition, knowledge, and experience. When you decide, based on your intuition, that a particular team is going to win a baseball game, you are making a qualitative forecast. Because qualitative methods are made by people, they are often biased. These biases can be related to personal motivation (“They are going to set my budget based on my forecast, so I'd better predict high.”), mood (“I feel lucky today!”), or conviction (“That pitcher can strike anybody out!”).
TABLE 8-1 Types of Forecasting Methods

 Quantitative forecasting methods
Forecast is based on mathematical modeling.
Quantitative forecasting methods, on the other hand, are based on mathematical modeling. Because they are mathematical, these methods are consistent.
I THINK THIS WILL HELP YOU
AND
PLZ MARK ME AS BRAINLIEST
TQ
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