Prediction of conditions expected to occur in the near future, up to about two days ahead
Predicting what is likely to happen in the future, the intensity of the anticipated event, its importance to the firm, and the pace or time frame in which it may occur
Predicting current and future market trends using existing data and facts Analysts rely on technical and fundamental statistics to predict the directions of the economy, stock market and individual securities
the act of using some defined method of projecting the future value(s) of a data series
normally higher level then the budget, performed more frequently and often extends past one year, normally involves less input sources Additional IMPACT capabilities that are used for both forecasting and budgeting
Predicting sales and use of products so the correct amounts can be obtained in advance
The process of making projections about future performance based on existing data
The process of estimating or calculating electricity load or resource production at some point in the future
normally higher level than the budget, performed more frequently and often extends past one year, normally involves less input sources Additional IMPACT capabilities that are used for both forecasting and budgeting
The process whereby the value of some variable at some future time is estimated Forecasting is one of the primary objectives of science The new long-lead forecast system puts seasonal forecasting on firm statistical and dynamical bases through the objective use of the CCA, OCN and CMF tools
Making projections about future performance on the basis of historical and current conditions data
Assessing the magnitude which a quantity will assume at some future point in time, as distinct from ''estimation,'' which attempts to assess the magnitude of an already existent quantity
is a tool for molding the future and as a dynamic, interactive process Forecasts do not assert what the future shall be; rather they attempt to glean what it might be and what opportunities for shaping it might offer them Forecasts may be qualitative or quantitative Back to Contents
A unique approach to planning, using scenarios, interesting use of information Simply using new forecasting software is not interesting, unless it is used in a nontypical way (Process)