Examlex
Suppose a company customizes its product offerings based on data generated through interaction between the customer and the company.What does the company have?
Naive Approach
A forecasting technique that assumes that demand in the next period is equal to demand in the most recent period.
Time-series Model
A statistical model that analyzes a sequence of data points, typically measured at successive time intervals, to forecast future trends.
Time-series Forecasting
The use of historical data to predict future occurrences through identifying patterns or trends over time.
Past Demand
Historical data regarding the quantity of goods or services that were sought after by consumers in previous periods.
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