Explore BrainMass

Planning tools for forecasting

An important part of business is to plan ahead. Identify three planning tools used for forecasting and the information each provides.

Solution Preview

Business Forecasting

Business forecasting is an estimate of future events or goals in targeted functions such as sales, production, revenues, expenditures, and so forth. Managers use tools to assist with monitoring and measuring progress of their predictions and forecasts. These tools show how the predictions compare to the actuals and what events led to the success or failure of the business forecast. There are many types of tools of forecast measurement and management, but in this study we will explore three.

Forecasting Planning ...

Solution Summary

This solution explains three tools that can be used for business forecasting.