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What steps are included in the forecasting process ?

What steps are included in the forecasting process ?
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Answer #1

Forecasting process is the process of estimating the future trend of data with reference to the trend of past data analysed by analyst.There are different steps in forecasting process are as follows:

1)Determining the objectives of forecasting

2)Determining the time frame that complete forecasting process

3)Selecting the proper forecasting technique

4)Collecting accurate data or information and analysed it properly for the foresting the future data

5)Present the forecasting data

6)And monitor the forecasted data

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