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What is the purpose of forecasting? Why are forecasts not always correct? What are the limitations of forecasting?
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https://brainmass.com/business/business-management/purpose-forecasting-211227
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What is the purpose of forecasting?
A forecast projects a company’s future revenues by looking at the past year and/or years and forecasting the upcoming year for the purpose of reducing or expanding staff, making significant purchases and this tool helps management plan for the upcoming year. With a forecasted budget, management can look at what they have, where …
