Forecasting

Abstract

Forecasting processes take into account past consumer behavior as well as current trends. This method requires not only predicting future demand but also explaining previous demand behavior and the factors influencing that behavior. As the amount of data in businesses grows, it becomes increasingly challenging to create accurate and timely predictions. For businesses that wish to maintain their competitiveness, making accurate and quick predictions is unavoidable. New technologies such as powerful artificial intelligence algorithms, cloud computing, machine learning, data mining, and simulation facilitate the classification, sorting, processing, and interpretation of data. Thus, managers can make dynamic, fast, and satisfactory forecasts. © 2023 selection and editorial matter, Turan Paksoy and Muhammet Deveci; individual chapters, the contributors.