Forecasting Horizons and the Role of Forecasting in Driving Business Decisions
Forecasting is the complex act of predicting the future. Given limited information, how can we infer a future trend? While some people may feel the goal of forecasting is know the future, I actually think it's really about planning. If this, then that. Without a shape of what the future could look like, we end up unprepared for our future. No one wants that. But how do we effectively put forecasting to use? How can it change the way we do business and make our actions defensible? In other words, how can we rely on a forecast to drive business activities?