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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

Human-in-the-Loop

Human-in-the-loop refers to a collaborative approach where humans and AI systems work together to achieve optimal results. It involves combining human expertise, judgement, and…

Unsupervised Learning

Unsupervised Learning is a Machine Learning technique where models learn patterns and structures within data without labelled examples. By uncovering hidden relationships and clustering…

Sentiment Analysis

Sentiment Analysis is an AI technique that analyses emotions and opinions expressed in text data. Sentiment analysis can classify text as positive, negative, or…

Regression Analysis

Regression Analysis is a statistical technique used to determine the relationship between independent variables and a dependent variable. By analysing historical data, businesses can…
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