what comment can we add for these two different answer

1. In about 50 words each, please comment on three distinct aspects of the art/science of forecasting about which you leared on this topic. Forecasting allows for businesses to attempt to predict the future based on past data and information. These predictions can be used to drive business decisions like stock ordering or work allocation, and can improve a business's chances of succeeding. Forecasting requires the analysis of sample data to determine what kind of model should be used on the data. This careful selection will result in a prediction or regression that fits as close to the current data as possible, giving a reliable forecast The use of forecasts can be dangerous if too much dependence is put on them. Predictions made through forecasting assume that how things were in the past will always be true in the future, which is something that is certainly never the case. 2. Please, in approximately 50 words each, please describe briefly three distinct business scenarios for which quantitative forecasting techniques would prove useful A toy store puts out a new toy, and records how many customers buy the toy over the next few days. The store can then do a trend projection to forecast how much more of that toy they will sell in the future, and can order new stock as necessary. A restaurant could record how many customers they have each night along with their total revenue for that night, and create a linear regression that allows the restaurant to predict their revenue for future nights based on how many customers they are expecting USPS could record how many packages they receive with what time of year it is to predict future busy times of the year. This can affect how many employees work based on the predictions and extra routes that need to be taken In the business world forecasting allows in budgeting, planning and allowing business for future growth. Forecasting as science implements measures and quantitative reasoning that helps a business in future decision making. Forecasting as an art allows businesses in being able to distinguish what information would be useful for a business. Forecasting sets up a business for success. when business are given valuable information that through forecasting business are able to make future decision. In the aspects that quantitative forecast can be useful in a Delphi method, which is when a panel of professionals are assigned situations and is asked to conduct initial prediction, and based on what is given to the experts are able to develop written opinion, the responses is analyzed and submitted to the panel for more consideration, the responses are taken anonymously so that no members is influenced by other opinions and the responses are repeated until a consensus is acquired. Another aspect that quantitative forecast is useful is through consumer expectation, in which survey is conduct among the consumer through questioning and direct response in order to access their intention in purchasing the product and the estimation that is conducted Lastly quantitative forecast can be useful when is involves opinion of a sales person, sales person are the ones who directly are in contact with the customer, which means they can collect the opinion of the customers product quality improvement, a sales person can assess the forecasting sales in the next period of product purchase. 1. In about 50 words each, please comment on three distinct aspects of the art/science of forecasting about which you leared on this topic. Forecasting allows for businesses to attempt to predict the future based on past data and information. These predictions can be used to drive business decisions like stock ordering or work allocation, and can improve a business's chances of succeeding. Forecasting requires the analysis of sample data to determine what kind of model should be used on the data. This careful selection will result in a prediction or regression that fits as close to the current data as possible, giving a reliable forecast The use of forecasts can be dangerous if too much dependence is put on them. Predictions made through forecasting assume that how things were in the past will always be true in the future, which is something that is certainly never the case. 2. Please, in approximately 50 words each, please describe briefly three distinct business scenarios for which quantitative forecasting techniques would prove useful A toy store puts out a new toy, and records how many customers buy the toy over the next few days. The store can then do a trend projection to forecast how much more of that toy they will sell in the future, and can order new stock as necessary. A restaurant could record how many customers they have each night along with their total revenue for that night, and create a linear regression that allows the restaurant to predict their revenue for future nights based on how many customers they are expecting USPS could record how many packages they receive with what time of year it is to predict future busy times of the year. This can affect how many employees work based on the predictions and extra routes that need to be taken In the business world forecasting allows in budgeting, planning and allowing business for future growth. Forecasting as science implements measures and quantitative reasoning that helps a business in future decision making. Forecasting as an art allows businesses in being able to distinguish what information would be useful for a business. Forecasting sets up a business for success. when business are given valuable information that through forecasting business are able to make future decision. In the aspects that quantitative forecast can be useful in a Delphi method, which is when a panel of professionals are assigned situations and is asked to conduct initial prediction, and based on what is given to the experts are able to develop written opinion, the responses is analyzed and submitted to the panel for more consideration, the responses are taken anonymously so that no members is influenced by other opinions and the responses are repeated until a consensus is acquired. Another aspect that quantitative forecast is useful is through consumer expectation, in which survey is conduct among the consumer through questioning and direct response in order to access their intention in purchasing the product and the estimation that is conducted Lastly quantitative forecast can be useful when is involves opinion of a sales person, sales person are the ones who directly are in contact with the customer, which means they can collect the opinion of the customers product quality improvement, a sales person can assess the forecasting sales in the next period of product purchase