What type of forecast should be used for strategy, sourcing and location decisions? multiple choice question. operational tactical independent strategic?

The process of forecasting entails creating predictions based on historical and current data.
These can then be contrasted (resolved) with what actually occurs.
For instance, a business can predict its revenue for the following year and then contrast that prediction with the actual outcomes.
A comparable but more broad phrase is prediction.
Depending on the context, the term "forecasting" may apply to particular formal statistical techniques using time series, cross-sectional data, or longitudinal data, or it may refer to less formal judging techniques or the prediction and resolution process itself.

Forecasting examines how hidden currents in the present suggest potential changes in direction for businesses, societies, or the entire planet.
Prediction is concerned with future certainty.
Therefore, the main objective of forecasting is to identify the entire spectrum of possibilities rather than a small number of illusory certainties.

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