Encyclopedia of Operations Research and Management Science, Forthcoming
16 Pages Posted: 18 Aug 2015
Date Written: September 16, 2011
The field of forecasting is concerned with making statements about matters that are currently unknown. The terms "forecast," "prediction," "projections," and "prognosis" are interchangeable as commonly used. Forecasting is also concerned with the effective presentation and use of forecasts.
Keywords: forecasting, prediction, projection, prognosis, principles
JEL Classification: C53
Suggested Citation: Suggested Citation