Forecast period
Forecasting is the art of predicting future events by examining a variety of factors. A forecast period is a defined period of time in the future that is taken for the preparation of an estimate of what is thought likely to happen during that period. The forecast may take the form of a statement that is written or verbal. It may also include graphical or numerical information.
A business forecast may be undertaken for example, on a three-month, six month or yearly basis. If done on a three-month basis, the forecast is usually referred to as a quarterly forecast; if six-month, it is referred to as a six-month forecast.
Forecasts are usually created from studying historical data and predicted trading conditions, opinions, trends, political, social and international factors, and how these might interact during the period concerned. The forecasts may be used as the basis for preparing targets and budgets for the period.
Most business forecasting is based on the use of extrapolative forecasting (extrapolative research techniques) which attempts to predict the future by extrapolating historical trends. This process assumes that patterns that have been manifest in the past are regular, can be measured and will continue.
Such techniques can be used to forecast annual earnings, annual spending, house sales etc.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
The infrastructure planning process
A look at the Government's strategic approach.
Steps to help reduce the spread of infection inside buildings.
Urban exploration and construction
This social media-centred hobby can be both dangerous and illegal.
Millwork wall treatment with a long and illustrious history.
Weekly workplace noise estimator tool
HSE introduces cumulative exposure calculator.
The Edwardians and their houses.
Cut off from civilian life for over 900 years.
Can net zero and levelling-up align?
Gaining green support from the carbon giants.
Medieval passageways with spiritual, transport and economic purposes.
CIOB applauded for people management leadership
Organisation receives accreditation from Investors in People.
Receive the Designing Buildings newsletter
Click the button to subscribe.
The importance of successful crisis messaging
Communicating the right information at the right time.
Angular selective shading systems
Materials can take on different properties to control heat and glare.
Challenges in the construction sector and beyond.