Step 2 of the forecasting process r

Step 2 of the forecasting process relates to preparing an initial forecast. However, we need not rely on a single forecasting method. Several different forecasts can be used to arrive at a forecast. Initial statistical forecasts using several time-series methods and regression are distributed to knowledgeable individuals, such as marketing directors and sales teams, (and sometimes even suppliers and customers) for their adjustments. They can account for current market and customer conditions that are not necessarily reflected in past data. Multiple forecasts may come from different sales teams, and some teams may have a better record on forecast errors than others.