Where can we use forecasting?

Forecasting can be done in many areas for future requirements. But the question is if forecasting is not able to change the present, then will it be of use in future. Forecasting is used in different areas for different situations, some areas where forecasting is done are given in Figure 5.1.

Thus, it is no big surprise that we have been endeavoring to sharpen our skills of forecasting throughout the ages. Even though we are still a long way from arriving at the objective of perfection, it is astonishing how far we have come to give the best possible result, thanks to the previous researchers. Before going further, we should review the seven key periods of forecasting.