In previous paragraphs, an idea for the necessity of forecasting in different sectors was discussed. Now we should understand the different stages of predictive analysis and forecasting. These stages are represented in the flow chart (Figure 5.2).
According to the given stages, all stages can be linked with a primary era in the following way (Figure 5.3):
The relation between types of primary era and stages of forecasting
| Stage number | Stages | Primary era |
|---|---|---|
| 1. | Interrogating nature | Prehistory to classical |
| 2. | Scrutinizing symbols | Classical to medieval |
| 3. | Applying math to nature | Revitalization |
| 4. | Inventing statistics | Later 18th to early 20th century |
| 5. | Developing future studies | Post-World War II |
| 6. | Data-based forecasting and predictive analytics | 20th–21st century |
| 7. | Quantified forecasting and more structure | Early 21st century |
Leave a Reply