Types of errors in forecasting

0.0(0)
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/4

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

5 Terms

1
New cards

Incorrect starting information

Using insufficient or unreliable data such as focusing only on one region when national data is required

2
New cards

Low resource allocation

Forecasting based on higher sales expectation without having the production capacity to meet those targets

3
New cards

Maintening forecasting technique despite changing conditions

Continuing with the same forecasting method even when external conditions like economic downturn or pandemics have shifted the market

4
New cards

?

??

5
New cards