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Vocabulary Term Details

Forecasting

Definition (http://en.wikipedia.org/wiki/Forecasting)

Forecasting is the process of making statements about events whose actual outcomes (typically) have not yet been observed. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgemental methods. (Wikipedia)

Preferred Units: N/A

Scope Note:
N/A

Broader TermsNarrower TermsRelated Terms
Activities
Flood forecasting
Weather forecasting
Early warning systems
Evaluation
Management
Methods
Statistical methods
Trends

This term is used for the following terms: 
Prediction
Projections

Approved Date
30-Oct-2013

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