Forecasting involves predicting future outcomes or trends based on historical data and patterns. By analysing past data and applying statistical techniques, businesses can make informed forecasts for sales, demand, market trends, and resource allocation. Accurate forecasting helps organisations optimise operations, plan strategies, and make data-driven decisions.
Dimensionality Reduction is the process of reducing the number of variables or features in a dataset while retaining its essential information. By eliminating irrelevant…