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.
Bayesian networks are Probabilistic Graphical Models that represent and evaluate uncertainty and conditional dependencies between variables. Industries such as healthcare and finance use Bayesian…