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insight Encyclopedia


Forecasting is the act of analyzing and mining data in order to predict what will happen in the future. Forecasting is typically accomplished using a BI application such as Logi Info. What is the difference between planning and forecasting?

Forecasting can provide essential data to any business, no matter the industry. For example, in the case of a facility manager, such an application might provide real-time KPIs to give users the insight they need to make data-driven decisions – to track performance of every asset, accurately predict points of asset failure, and save maintenance costs to enhance equipment life.