Demystifying Demand Forecasting

Instructions

Assignment Prompt and Instructions:This week you will be searching the internet for two resources that add to your understanding of the lesson material in chapter 1 (Chase) on Demystifying Demand Forecasting. Use the template attached to this assignment for your submission. Start by listing key search terms you will use to locate two resources for this essay. Then, search in YouTube, Google, Bing, or any other search engine for a resource that adds to your knowledge of forecasting. Do not source "for-purchase options" such as consultancies or statistical software. As an example, you could source a YouTube video that expands your understanding of the basics of forecasting demand from either the demand or supply side.Create three sections and headings in  your paper labeled:Resource one TitleResource two TitleSummaryDirectly under each resource, insert a hyperlink to the resource, then summarize your findings from this resource. Finally, in the  Summary section, summarize what you have learned that provided insight into forecasting.  This section is the most important. Spend some time thinking about what you have learned and how to communicate what you learned effectively.Assignment Instructions:Minimum 1000 words of the content of strategic material, double spaced. The content requirement does not include a cover page, abstract, nor reference pagesResources and citations are formatted according to APA (7th edition) style and formatting

Answer

Demand ForecastingThis paper majorly focuses on producing a simple concept of understanding demand forecasting. It employs the use of two key resources that provide an in-depth understanding of the topic (Demand Forecasting). The key terms used in the search for reference resources are; demand forecasting which can be best described as the procedure of employing the use of predictive analysis on collected customer data to establish and speculate subsequent demands of customer need for goods and services and introduction to demand forecasting.Resource 1: (Lopienski, 2021) focuses on demand forecasting as a systematic model that tends to employ customer data collected over time as the basis for establishing a model that defines a customers consumption habit and dee...
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