BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is Business Forecasting? Business forecasting refers to the process of predicting future market conditions by using business intelligence tools and forecasting methods to analyze historical data. Business forecasting can be either qualitative or quantitative.

Detailed explanation-2: -The time-series method is the most common quantitative approach to forecasting. It focuses on making predictions based on factual information. Using current and historical data, researchers can build data models that help business leaders understand the “why” behind what the business is experiencing.

Detailed explanation-3: -Most businesses aim to predict future events so they can set goals and establish plans. Quantitative and qualitative forecasting are two major methods organizations use to develop predictions. Understanding how these two types of forecasting vary can help you decide when to use each one to develop reliable projections.

Detailed explanation-4: -There are three basic types-qualitative techniques, time series analysis and projection, and causal models.