forecasting methodologies

Forecasting methodologies are techniques used to predict future events or trends based on past data. They analyze historical information—such as sales, weather, or economic indicators—and apply statistical or mathematical models to estimate what might happen next. Common methods include using past patterns, averaging data, or applying complex algorithms like machine learning. These approaches help businesses and organizations make informed decisions, plan resources, and prepare for future challenges or opportunities. Ultimately, forecasting combines data analysis with understanding of context to provide the most accurate possible predictions for the future.