When forecasting demand for new products, sometimes i rms will use demand data from similar existing products to help forecast demand for the new product. What technique is this an example of?

Which type of forecasting approach, qualitative or quantitative, is better?

ontrast the reactive and proactive approaches to forecasting. Give several examples of types of organizations or situations in which each type is used.

The following table shows the actual demand observed over the last 11​ years:                                                                                                                                             Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 7 11 7 13 12 10 13 8 This exercise contains only parts​ b, c, and d. Part 2 ​b) Using the​ 3-year moving​ average, provide the forecast from periods 4 through 12 ​(round your responses to one decimal​ place).                                           Part 3 ​c) Using the​ 3-year weighted moving average with weights   0.10​,   0.30​, and   0.60​, using   0.60 for the most recent​ period, provide the forecast from periods 4 through 12​ (round your responses to two decimal​ places).                                           Part 4 ​d) Mean absolute deviation for the forecast developed…

Forecasting can be classified into which basic types?

Investigate the role of demand forecasting and data analytics in enhancing the accuracy of the Wilson approach.