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When you slice up a pie that contains a swirled mixture of chocolate and vanilla filling, you notice that some slices have more chocolate than vanilla and that other slices have more vanilla than chocolate. This uneven distribution of chocolate and vanilla is most like the uneven distribution of
Historical Demand
Past data on the quantity of a product or service that consumers bought over a specific time period, used for forecasting future demand.
Qualitative Forecasting Methods
Techniques that use expert judgment and subjective inputs to forecast outcomes, rather than relying solely on historical numerical data.
Causal Forecasting Methods
Predictive techniques that assume a cause-and-effect relationship between variables to estimate future outcomes.
Demand Forecast
The process of estimating the future demand for a product or service, based on historical data, current market trends, and predictive analysis.
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