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
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
The ECA Industry Awards 2024 now open !
Recognising the best in the electrotechnical industry.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.
Quick summary by size, shape, test, material, use or bonding.
Types of rapidly renewable content
From forestry to agricultural crops and their by-products.
Terraced houses and the public realm
The discernible difference between the public realm of detached housing and of terraced housing.