Please read the statement below and determin if you agree or disagree.. explain why or why not..feel free to add any comments. minimum 5-7 sentences. Thank you

Hello Class and Professor, Forecasting is a crucial part of in the planning process. A business will use this to achieve a good understanding of what they can expect for future data and performance. Forecasts are a critical part of the operations managers function. (Heizer et al. 2020). There are different types of time-series and associate forecasting models that businesses utilize for their planning needs. The first one is Nave. This utilizes the last periods real value as an actual forecast. Second is a simple mean. This averages all the past data and uses this figure as a forecast. There is simple moving average. This utilizes an average of a specific number chosen from the most recent transactions or observations, with each transaction or observation being valued equally and the same. There is weighted moving average which utilizes an average of a specific number chosen from the most recent transactions or observations, with each transaction or observation being valued at different weights or amounts. There is exponential smoothing which is a system that utilizes a weighted average. As the data becomes older, the data weight will decline. There is trend projection and is based on technique that uses the least squares method in order to fit a straight line through the data. Lastly there is seasonal indexes, and this is a technique that applies adjustments to the forecast based on seasonal patterns that might reflect the data. I think these time-series and associative forecasting models are most applicable to huge retail chains for example target, Walmart, and Frys. They would need to use these because it would help them to identify trends and see where they need to focus on so that they can grow and succeed.