Section 4 - Forecasting

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Computer Science - Artificial Intelligence

user_jevbwl Created by 7 mon ago

Cards in this deck(67)

What is the method for translating past experience and present events into predictions of the future?

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True or False: Forecasts are always perfect?

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When are forecasts generally more accurate?

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What is strategic forecasting used for?

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What is planning forecasting primarily used for?

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What are the three forecasting horizons?

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Typically, how long is long-range forecasting?

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Typically, how long is medium-range forecasting?

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Typically, how long is short-range forecasting?

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Why is forecasting important in business planning?

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What is qualitative forecasting?

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What is the Delphi forecasting method?

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What is quantitative forecasting?

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What are causal forecasting methods?

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What are the characteristics of qualitative forecasting?

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What are the characteristics of quantitative forecasting?

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What are the steps of the forecasting process?

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What is a time series model?

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What is a time series model based on?

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What is a time series?

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What are the two assumptions with the time series model?

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What are the five different time series behaviours?

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What is average time series demand behaviour?

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What is trend time series demand behaviour?

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What is seasonality time series demand behaviour?

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What is cycle time series demand behaviour?

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What is random variation time series demand behaviour?

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What are the five time series forecasting models?

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What is naive forecasting?

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What are the characteristics of naive forecasting?

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What is simple moving average forecasting?

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What are the characteristics of simple moving average forecasting?

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What is weighted moving average forecasting?

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What are the characteristics of weighted moving average forecasting?

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What is exponential smoothing forecasting?

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What are the characteristics of exponential smoothing forecasting?

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What is adjustment for seasonality forecasting?

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How can companies pick the appropriate time series model?

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If the underlying average is not changing, what model should be chosen?

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If a trend exists, what model should be chosen?

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If the underlying average exhibits seasonal patterns, what model should be chosen?

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What is considered a low value alpha in exponential smoothing?

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What is considered a high value alpha in exponential smoothing?

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Why are forecasts rarely accurate?

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What are the modern issues that affect the accuracy of forecasts?

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What are the small business issues that affect the accuracy of forecasts?

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What is the main forecasting objective?

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What is forecasting error?

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What are the ways to minimize forecasting error?

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What are the four forecast error measures?

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What is the mean absolute deviation (MAD)?

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What is the mean squared error (MSE)?

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What is the mean absolute deviation (MAD) used for?

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What is the mean absolute percentage deviation (MAPD) used for?

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What is the mean squared error (MSE) used for?

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What is cumulative error (CE) used for?

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What is machine learning (ML)?

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What are the characteristics of machine learning?

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True or False: In recent years, machine learning has become an essential component of reliable demand forecasting.

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How does machine learning work?

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What can machine learning algorithms identify, and what does it allow for?

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What are the four steps of machine learning in demand forecasting?

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What are the ways that machine learning gathers data?

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How does machine learning pre-process data?

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How does machine learning use model training?

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How does machine learning evaluate the model?

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What are the benefits of machine learning?

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