Overview
Forecasting is the process of predicting future events based on historical data. In data analytics, it helps businesses make informed decisions by estimating future trends, sales, or customer behavior. Understanding different forecasting methods and their applications is essential for effective planning and strategy. This introduction will cover basic concepts, techniques, and the importance of accurate forecasting in various industries.
📚 Key Learning Objectives
- ✓ Identify key concepts in forecasting.
- ✓ Explain different forecasting methods.
- ✓ Analyze historical data for trends.
- ✓ Apply forecasting techniques to real-world scenarios.
- ✓ Evaluate the accuracy of forecasts.
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