Forecasting

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Forecasting is the process of using past data to predict what is likely to happen in the future. In time-series forecasting, models look at data collected over time and learn patterns such as trends or repeating seasonal behavior. Traditional approaches use statistical methods, while modern systems also incorporate machine learning to capture more complex relationships.

Forecasts are used in finance, inventory management, healthcare, and many other areas where anticipating demand or risk can improve outcomes and reduce costs. A forecasting workflow usually evaluates accuracy with standard metrics and tracks how well predictions hold up as new data arrives. Because future conditions can shift, forecasts are updated regularly and often include uncertainty ranges to show how confident the model is.

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