This is a Business Forecasting Question. I know the 3 stages for the evolution of forecasting are 1. Times Series Model 2. Demand Planning Model 3. Predictive Analytics Models I have questions in my homeworks about these stages, but they don't call them what I was given. I have the answer choices: Judgemental, Big Data, Quantitative, and Time Series. Obviously Time Series is one, but what are the other 2 Called. I am not putting the specifics of the questions because that's not what I'm asking. I'm just hoping that someone can clarify these 3 stages for me. I realize that I listed 4 things which means that one is not a stage. I think Big Data isn't a stage, but please correct me if I'm wrong.
This is a Business Forecasting Question. I know the 3 stages for the evolution of forecasting are 1. Times Series Model 2. Demand Planning Model 3. Predictive Analytics Models I have questions in my homeworks about these stages, but they don't call them what I was given. I have the answer choices: Judgemental, Big Data, Quantitative, and Time Series. Obviously Time Series is one, but what are the other 2 Called. I am not putting the specifics of the questions because that's not what I'm asking. I'm just hoping that someone can clarify these 3 stages for me. I realize that I listed 4 things which means that one is not a stage. I think Big Data isn't a stage, but please correct me if I'm wrong.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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This is a Business Forecasting Question.
I know the 3 stages for the evolution of forecasting are
1. Times Series Model
2. Demand Planning Model
3. Predictive Analytics Models
I have questions in my homeworks about these stages, but they don't call them what I was given.
I have the answer choices: Judgemental, Big Data, Quantitative, and Time Series.
Obviously Time Series is one, but what are the other 2 Called. I am not putting the specifics of the questions because that's not what I'm asking. I'm just hoping that someone can clarify these 3 stages for me. I realize that I listed 4 things which means that one is not a stage. I think Big Data isn't a stage, but please correct me if I'm wrong.
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