Components of Forecasting Process


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A.Forecast data base keeps information about
•Orders
•Order history
•Tactics used to obtain orders such as promotions, schemes, special promotional programmes.
•State of economy and competitive actions.

B. Forecast process integrates forecast techniques, support system and administration.

•Two prominently used forecasting techniques are time series and correlation modelling.
•Forecast support system is the capability to gather and analyze data, evaluate impact of promotion, develop forecast and communicate to the relevant personnel.
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