Business / Human Resources (HR) / Normative Forecasting
Normative Forecasting: A method of projecting future needs in order to determine what developments will be required to meet those needs.
Variance Forecasting: A measure that utilizes a demand and availability forecast to determine whether an organization has the ability to meet future manpower needs.
Numerical Forecasting: The use of numerical models, such as the fundamental equations of hydrodynamics subjected to observed initial conditions, to forecast the weather. These models are run on high-speed computer . . . View Full Definition
Forecasting: Most people choose the forecast year to coincide with either the January-December calendar year or the fiscal year of the business, but this is not a requirement. Depending on the forecast s . . . View Full Definition
Word of the Day:
Malty: An aromatic sensation created by a moderately volatile set of aldehydes and ketones that produces sensations reminiscent of toasted grains.