Forecasting the data and information related to the evolution of variables is of crucial importance for the setting of plans for the policies of any activity. For example, to plan the production of a company, it is not enough to know that the demand for products or services is increasing or decreasing, but it is essential to predict the trend of future demand for products, prices, and raw material costs. All of these factors are considered influential in production activity.
Forecasts play a central role that lies at the heart of the entire decision-making process. Inaccurate and inadequate forecasts risk, therefore, invalidating the conclusions reached through the difficult implementation and resolution of a decision model. The term "forecasting process" refers to that of complex activities, which are more or less explicit, that lead to the...
