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Glossary Element  Foresight Dictionary


English: Forecasting

Glossary Element  Forecasting

Forecasting is a forward-looking approach aimed at exploring and predicting a surprise-free future. On the basis of assumed continuity or expected events, trends are projected and extrapolated from the past into the future. The uncertainty related to the future courses of the trends is often, but not always, presented as a bandwidth. Key forecasting methods are trend-extrapolation techniques and modelling. Forecasting is sometimes considered to be one of the ancestors of foresight.


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