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Explain the process of forecasting and consider all the factors that contribute to the accuracy of...

Explain the process of forecasting and consider all the factors that contribute to the accuracy of forecasting

Math   Statistics-And-Probability   
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Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term.Based on prior research, it is hypothesized that three primary factors drive changes in aggregate forecast accuracy over time: economic conditions, regulation changes and changes in analyst characteristics.

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