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International Encyclopedia of Statistical Science
Forecasting, planning and goals Forecasting is a common statistical task in business, where it helps inform decisions about scheduling of production, transportation and personnel, and provides a guide to long-term strategic planning. However, business forecasting is often done poorly and is frequently confused with planning and goals. They are three different things. Forecasting is about predicting the future as accurately as possible, given all the information available including historicaldoi:10.1007/978-3-642-04898-2_156 fatcat:w5qbfvbdt5fvpkpeoyhak6bgpe