Forecasting
/fɔːrˈkɑːstɪŋ/
Definitions
2 meaningsThe act of making predictions about future events, particularly in business or weather.
/fɔːrˈkɑːstɪŋ/
To predict or estimate future events or conditions.
The company is forecasting a significant increase in sales next quarter.
💡 Simply: Imagine you're trying to guess what will happen next. Forecasting is like trying to predict what the future will be like, like the weather or how much money your business will make.
👶 For kids: Trying to guess what will happen in the future, like guessing if it will rain tomorrow.
More Examples
Scientists are forecasting rising sea levels due to climate change.
The economist forecasted a recession based on current economic indicators.
How It's Used
"Companies use financial forecasting to estimate future profits."
"Meteorologists are tasked with forecasting the weather."
The process of using data and analysis to predict future events.
/fɔːrˈkɑːstɪŋ/
The act or process of predicting future events.
The company's forecasting was off by a considerable margin.
💡 Simply: Forecasting is like using clues and information to try and figure out what's coming next. Like checking a map when planning a trip.
👶 For kids: Guessing what will happen based on clues.
More Examples
Accurate forecasting is key to successful project management.
Weather forecasting is essential for various industries.
How It's Used
"Sales forecasting is crucial for inventory management."
"Economic forecasting is vital for government policy decisions."
Idioms & expressions
crystal ball forecasting
Predicting the future with little or no reliable data; based on guesswork rather than data and analysis
"Trying to predict the stock market without any financial data is like crystal ball forecasting."
Trend forecasting
Predicting the direction of trends or developments.
"Fashion companies use trend forecasting to predict the next popular styles."
From Middle English forecasten (to plan ahead), from fore- (before) + casten (to throw, reckon).
The term 'forecasting' has been used in English since the 19th century, initially to describe the prediction of weather conditions.
Memory tip
Think of 'fore-' (before) and 'casting' (looking ahead).