Forecasting / Predictive Analysis

Essential for construction and manipulating models because when a deciion in implemeneted, the results usually occur in the future.

Ecommerce has created an immense need for forecasting and an abundance of available information for performing it.

Many orgs have accurately predicted demand for products and services using a variety of quantitive and qualitive methods.

CRM and revenue management systems rely heavily on forecasting techniques / predictive analysis

Technologies for Decision-Making Processes

Structured (Programmed) : MIS, Management Science Models, Transaction Processing

Semistructured : DSS, KMS, GSS, CRM, SCM

Unstructured (Unprogrammed) : GSS, KMS, ES, Neural networks