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Definitions from the Web

Term: Baseline Forecasting

Description: Baseline forecasting refers to a method used in predictive analytics and data analysis. It involves creating a projected baseline, or a reference point, to forecast future values based on historical data and patterns. This technique helps in making predictions and planning for future trends and outcomes.

Sample Sentences:

1. The company relied on baseline forecasting to predict sales for the upcoming quarter.
2. Baseline forecasting is a crucial tool for financial institutions to estimate market behavior.
3. By applying baseline forecasting, the meteorologists were able to predict the intensity and path of the hurricane.
4. Baseline forecasting provides a valuable reference for analysts to evaluate the success of a marketing campaign.

Possible Related Products:

• Books on Forecasting Methods
• Predictive Analytics Tools
• Data Analysis Software