Chapter 4: Forecasting
Forecasting is a multifaceted exercise. It often involves the accumulation and absorption of massive amounts of information from many different sources. That body of content is then filtered through the eye of the beholder. In other words, it is not an exact science and requires human instincts willing to speculate on what the market will value in the future. Successful predictions are usually founded on project-specific research.
CHANGE
A forecaster needs to be aware of changes in tastes and lifestyles. For example, the threat of global warming has begun to alter a consumer’s criteria for purchases. A customer who now wants to know more about what a garment is made of in relation to its impact of the environment reflects ...
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