Wednesday, August 9, 2017

Forecast vs. Predict - what's the difference?

We get ask this frequently.

Fortunately, the team at PowerPivotPro has provided a nice write-up. So, rather than re-create the wheel, here it is:

The Difference Between Forecasting & Predictive Analytics


3 comments:

Veera Blogspot said...

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Moolamore said...

While forecasting and predicting are related concepts, they serve different purposes and utilize different methods. Forecasting is more specific to making data-driven projections based on historical trends, often used in business and economic contexts. Predicting is a broader term that encompasses a wide range of methods and applications, including but not limited to data-driven approaches. Understanding the distinction between the two can help organizations choose the appropriate methods for their specific needs and objectives. Best Cash Flow Forecasting Software | Financial Forecasting Strategy

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