Examlex
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Forecasting
The process of making predictions based on past and present data and analysis of trends, often used in planning inventory, sales, and other business operations.
Systematic Component
The part of a model or data that can be directly attributed to identifiable, potentially predictable, factors rather than random variation.
Seasonality
The periodic fluctuations in demand or activity levels experienced by businesses, often influenced by the time of year or season.
Adaptive Forecasting
A method in forecasting that adjusts its parameters and methods based on real-time feedback and data to improve future forecasts.
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