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The balance approach in forecasting is particularly useful in industries that are subject to rapid change and uncertainty, such as technology, finance, and energy. It's also beneficial in supply chain management, healthcare, and retail where understanding and predicting consumer behavior is crucial.
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If you were to sum up forecasting in one word, it might be "balance." This doesn't mean that your predictions should always be somewhere in the middle but take everything into consideration even if it contrasts with your current view. A closer inspection might introduce a factor you hadn't thought of that alters the course of your probabilities.
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Did you know it's possible to make accurate predictions about the future without psychic powers? Given the right practice and strategies to explore, y...
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