What is a forecasting tool?
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A forecasting tool is a program or system used to predict future events or outcomes. It is commonly used in various industries, including finance, marketing, business, and weather. Forecasting tools can use different types of methods and algorithms to analyze data and make predictions. These include simple statistical analysis, complex machine learning algorithms, regression analysis, and data mining techniques.