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forecasting

[ˈfɔːkɑːstɪŋ]

forecasting Definition

the action or process of estimating or predicting future events or conditions, especially in business or weather.

Using forecasting: Examples

Take a moment to familiarize yourself with how "forecasting" can be used in various situations through the following examples!

  • Example

    The company uses forecasting to predict sales for the next quarter.

  • Example

    Weather forecasting is an important tool for planning outdoor activities.

  • Example

    The accuracy of economic forecasting is often debated among experts.

forecasting Synonyms and Antonyms

Phrases with forecasting

  • the process of estimating the future demand for a product or service

    Example

    The company uses demand forecasting to determine how much inventory to order.

  • the process of estimating future sales for a product or service

    Example

    The marketing team uses sales forecasting to set revenue targets for the year.

  • the process of predicting future weather conditions

    Example

    The meteorologist uses weather forecasting to warn people of potential storms.

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Summary: forecasting in Brief

Forecasting [ˈfɔːkɑːstɪŋ] is the process of predicting future events or conditions, particularly in business or weather. It involves estimating future demand, sales, and other factors that affect planning and decision-making. Examples include 'The company uses forecasting to predict sales for the next quarter' and 'Weather forecasting is an important tool for planning outdoor activities.'