Forecast Forecasting allows
Forecast Forecasting Prct future trends project demand or anticipate the effects of certain strategies before acting on them in search of precise information. These models use data from the past and current conditions to generate ictions. This technique is especially useful for planning activities such as production planning product launches transportation routes etc. But it can also be us to project consumer behavior on demographics lifestyle or life cycle. Simulation Model The simulation model is all aboutcting the probability of…