Demand forecasting, also known as demand planning and sales forecasting (DP&SF), involves the prediction of the quantity of goods and services that will be demanded by consumers or business customers at a future point in time, conditional on a specified forecast horizon and information set. More specifically, the methods of demand forecasting entail using predictive analytics to estimate customer demand in consideration of key economic conditions.
Demand forecasting, also known as demand planning and sales forecasting (DP&SF), involves the prediction of the quantity of goods and services that will be demanded by consumers or business customers at a future point in time, conditional on a specified forecast horizon and information set. More specifically, the methods of demand forecasting entail using predictive analytics to estimate customer demand in consideration of key economic conditions.
Source: Wikipedia "Demand forecasting" · CC BY-SA 4.0
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