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Think about forecasting using Time-series Data in your organization. Address the threesubjects below : What are the various waysa forecast can go wrong using historic
Think about forecasting using Time-series Data in your organization. Address the threesubjects below:
- What are the various waysa forecast can go wrong using historic data to predict future requirements, resources, or customer demands?
- What statistical methods are used to "sense demand signals, shape demand, and forecast demand" (Chase, p. 126).
- What time-series data is used to forecast future demand for products, services, or activitiesin your organization? From your experience, how accurate is the time-series data that is used to forecast and how accurate are the forecasts?
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