As per my research, what I understood is, if nay company completely based on the Historical data, then they may see the error in forecast. Why because, people are changing day by day so their shopping habits and requirements. So, if we go by the historical data then we may not be able to catch the live requirements of customers. Especially, with the Covid19, the process of shopping has been completely changed. the best example of face masks, before covid19, people barely use the face masks but after with Covid19, many people started using the face masks and hand sanitizer etc.

To Mitigate the error, What I would do is, will take past data and analyze with the current trends so that business can understand the shoppers mind.

Suppose, at the starting time of time Covid19, use and throw face masks were only the choice but later people started using the washable face masks, if we go by the past data of face masks to manufacture the washable face masks, then it would be huge error in forecast. So, I take the past data of the face masks, and analyze the current trends and then prepare washable masks. then we may see the less error in forecast.

Do you agree or disagree with the above statement.