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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

Knowledge-Based Systems

Knowledge-Based Systems are AI systems that utilise domain-specific knowledge and rules to make informed decisions or provide expert advice. These systems incorporate human expertise…

Support Vector Machines

Support Vector Machines (SVMs) are Machine Learning algorithms used for classification and regression tasks. SVMs create decision boundaries and maximise the margin between different…

Generative Adversarial Networks (GANs)

Generative Adversarial Networks are a type of Machine Learning model that consists of two neural networks: a generator and a discriminator. GANs are used…

Cloud Computing

Cloud computing provides on-demand access to shared computing resources, including storage, processing power, and software applications, over the internet. By leveraging cloud computing, businesses…
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