Improving your company's forecast is the best investment you can make this year. A forecast is a set of numbers that combine the knowledge of the past with the best assessment of future conditions.
Forecasting is the process and techniques used to create a forecast.
The Science of Forecasting is the ability to acquire and interpret data that explains how your company reached its current status. The Art of Forecasting is the ability to develop a set of informed assumptions about what your company's future business environment will be. The Management of Forecasting is the ability to incorporate the forecast into all the relevant aspects of your company's operations. The Science of Forecasting Historical data is the starting point for forecasting. Your company's sales information is crucial, along with industry data for the same periods in time.