What is Forecasting?

Skill Level: Advanced

Forecasting involves predicting future outcomes or trends based on historical data and patterns. By analysing past data and applying statistical techniques, businesses can make informed forecasts for sales, demand, market trends, and resource allocation. Accurate forecasting helps organisations optimise operations, plan strategies, and make data-driven decisions.

Other Definitions

Knowledge-Based Systems

Knowledge-Based Systems are AI systems that utilise domain-specific knowledge and rules to make informed decisions or provide expert advice. These systems incorporate human expertise…

Genetic Algorithms

Genetic Algorithms are optimisation techniques inspired by the principles of evolution. By mimicking natural selection, Genetic Algorithms explore a large search space and find…

Adversarial Machine Learning

Adversarial machine learning involves studying and defending AI models against attacks or adversarial examples designed to deceive the system. By understanding vulnerabilities and deploying…

Data Science

Data Science encompasses the collection, analysis, interpretation, and visualisation of data to extract valuable insights and make informed decisions. It combines statistical techniques, Machine…