![]() Recognizing this, over the past two decades, many companies introduced dedicated forecasting software into the market. Whether practiced by students or stock market analysts, forecasting is completed with the aid of computer software. Getting an undergraduate or graduate degree in business without at least some rudimentary coverage of forecasting is unlikely, and many business schools are offering an elective course on time and frequency domain forecasting theory and procedures. Thus, forecasting theory and methodology is a basic staple in most business school curricula, even as other quantitative areas have seen a decrease in coverage.Īll business statistics textbooks now include at least one chapter on forecasting, most management science texts do the same, and ditto for all operations management books. Movie studios chart the weekly box office returns of their films, the government monitors unemployment figures and inflation rates, the Los Angeles Lakers track Shaquille O'Neill's free-throws, doctors monitor cholesterol values as patients try different medicines. The analysis of time-series data permeates most arenas in business, science, social science, medicine, even sports.
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