Forecasting Methods Essay by Rhicks

Forecasting Methods
An overview of some of the various forecasting methods and their uses.
# 63673 | 1,263 words | 3 sources | MLA | 2004 | US
Published on Feb 09, 2006 in Business (Statistics) , Engineering (Operations Research)

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This paper examines how the various forecasting methods have their differences and similarities. Some are based on hard data, such as past sales figures and surveys, while another may simply use assumptions. It looks at how, with the ever changing market trends careful considerations must be given to any style of forecasting that is used and how the type of forecast method used depends on which area of the market a company is in.
Time Series
Causal Forecasting
Delphi Method
Forecast Comparisons

From the Paper:

"The clothing industry utilizes forecasting methods that contain both assumptions and past data. Clothing styles change on a regular basis and rely on one constant, what is pleasing to the public's eye. Over the past few decades clothing styles focus on the amount of skin that is reviled and how the cloths show off the body's figure. Many people feel that wearing a certain outfit they saw in a magazine or commercial will look just as good on themselves. In other words: the clothes make the person. Some people believe that people who are obese or have very bad skin should not be wearing garments such as mini-skirts, plunging neck lines, shorts or mid-drifts. "

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