forecast
Definition
The act of predicting business activity for a future period of time. Typically, it is a projection based upon specific assumptions, such as targeted prospects or a defined sales strategy. For example, a sales pro forma in a business plan is considered a forecast.
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Business Tips
Predictions Using Historical Values
It has become extremely dangerous to use the past to forecast the future. Although people have gotten in trouble by thinking 'this time it's different', it really does seem that things are different n ... Read more
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