Forecasting is an accurate reflection of future states and is an activity that strongly favours quantitative and easily codified techniques.

Question

Quizplus · Accepted Answer

Forecasting is not always an accurate reflection of future states, as it is influenced by various factors such as unpredictability, uncertainty, and unforeseen circumstances. Moreover, while quantitative techniques are useful in forecasting, qualitative techniques based on expert opinions, surveys, and subjective interpretations are also valuable. Furthermore, not all aspects of forecasting are easily codifiable, as some involve complex and dynamic systems that require more nuanced and sophisticated methods.

Forecasting Is an Accurate Reflection of Future States and Is