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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

Convolutional Neural Network

A convolutional neural network is a powerful deep learning model designed for processing and analysing visual data. It excels in tasks such as image…

Decision Networks

Decision networks, also known as Probabilistic Graphical Models, are a type of AI model that represents uncertain knowledge using a graph structure. Decision Networks…

Time Series Analysis

Time Series Analysis is an AI technique that analyses data points collected over time. This approach involves detecting trends, patterns, and seasonality in the…

Transfer Learning

Transfer Learning is a technique that allows AI models to apply knowledge gained from one task to another related task. By leveraging pre-trained models…
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