Chapter Objectives
• Introduce forecasting methods;
• Explore the facets of forecasts and their dynamic nature;
• Discuss how forecasts can be optimized;
• Explore types of future outlooks;
• Considering forecasting best practices;
• Apply forecasting in a mini-case.
In order to survive in today’s competitive markets, the forecasting process must be mastered. We introduce you to the five viewpoints a forecaster can have of the future and describe particularities in international forecasting. In addition, this chapter shows benchmarks in the forecasting process, the models used, and the applied software solutions and systems. ...
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