Forecast: A statement of expected future occurrences. Weather forecasting includes the use of objective models based on certain atmospheric parameters, along with the skill and experience of a meteorologist.

 

Related Words

Forecast: A statement of expected future occurrences. Weather forecasting includes the use of objective models based on certain atmospheric parameters, along with the skill and experience of a meteorologist.

Forecast Year: The month and year on which the forecast period begins. See also Forecast Year.

Forecast Start Date: The period of time for which a business is modeled. Depending on the forecast start month, the first year of the forecast period may not be a complete forecast year. See also Forecast Year.

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

Variance Forecasting: A measure that utilizes a demand and availability forecast to determine whether an organization has the ability to meet future manpower needs.

Quantitative Precipitation Forecast (QPF): A forecast of rainfall, snowfall or liquid equivalent of snowfall.

Sales Forecast: A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors.

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

Profit Forecast: A prediction of future profits of a company, which may affect investment decisions.

Cash Flow Forecast: A report which estimates the cash flow in the future (usually required by a bank before it will lend you money, or take on your account).