Although these applications involve predictions, forecasting uses predictions in a different way. It uses a series of
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• Although these applications involve predictions, forecasting uses predictions in a different way. It uses a series of existing values to forecast what other values will be. For example, forecasting might find patterns in data to help managers estimate the future value of continuous variables, such as sales figures.
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Related Book For
Management Information Systems: Managing The Digital Firm
ISBN: 9780135191798
16th Edition
Authors: Kenneth Laudon, Jane Laudon
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