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What is Forecasting?

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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.

Other Definitions

Supervised Learning

Supervised Learning is a Machine Learning approach where models are trained using labelled data, with both input and output pairs. By learning from the…

Synthetic Data

Synthetic Data is artificially generated data that mimics real-world data. Synthetic data can be used to train Machine Learning models when real data is…

Deep Reinforcement Learning

Deep Reinforcement Learning is a subset of Machine Learning that combines Deep Learning and Reinforcement Learning. It involves training AI models to make decisions…

Predictive Analytics

Predictive Analytics uses historical data and statistical modelling techniques to make predictions about future outcomes. By analysing patterns and trends within data, businesses can…
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