ENTREPRENEURSHIP

Detailed explanation-1: -Demand forecasting is the process of using predictive analysis of historical data to estimate and predict customers’ future demand for a product or service.

Detailed explanation-2: -Quantitative forecasts Quantitative forecasting uses objective data and current trends to forecast future behavior.

Detailed explanation-3: -Regression analysis is a statistical technique used to find relationships between independent and dependent variables. Regression analysis uses historical data and observation to predict future values.

Detailed explanation-4: -Historical data refers to any data that reflects past demand and supply patterns, such as sales records, customer orders, inventory levels, market share, prices, promotions, seasonality, and external factors. You need to gather enough data to cover a relevant time period and frequency for your forecast.