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Forecasting is important because it helps managers prepare for changes in their industry. With the right forecasting, companies can have the products their consumers want with out any shortages or overages.
Wiki User
∙ 9y ago
Wiki User
∙ 14y agoIts important so you know whether to pack your bathing suit, or take an umbrella..
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What is the oldest and most important method of forecasting the future?
Judgmental forecasting is the oldest and still the most important method of forecasting the future.
Explain factors that make forecasting a particular challenge?
why is forecasting so important to companies and how does it have an effect on financing
What is the most important tool in weather forecasting?
weather maps
In demand forecasting important method used in trend projection is?
Delphi method
Is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Why is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Why is demand estimation and forecasting important for managerial decision making?
why is demand estimation and forecast important for managerial decision making
Where can one find information on forecasting techniques?
There are many types of forecasting depending on the discipline. Weather forecasting uses satellite images and pressure measures to predict the weather. Economic forecasting can be used for budgeting purposes, to predict sales or profit and loss margins, deficits and other indices important to the economy. Regardless of the discipline information on forecasting techniques can be found in educational institutions, libraries and in books that deal with he specific subject of the forecast.
Why is wind important in forecasting weather?
wind is very important because it moves moisture and heat around the world and produces much of our weather
Do they use satellites to study a hurricane?
Yes. Satellites are one of the most important tools in hurricane forecasting.
Is the barometer a good invention?
Yes. The barometer is one of the most important tools in forecasting and studying weather.
What is an explanation of Supply forecasting.?
Explain Supply forecasting
