DATA SCIENCE MODEL BUILDING FOR ENTERPRISE FORECASTING

Abstract

Executives today think about forecasts in almost every decision they make. Forecasting is no longer a luxury but a necessity for managers to deal with fluctuations in the economy, seasonality, changes in demand, pricecutting maneuvers by the competition, strikes, and other unexpected events. Forecasting has been proved an effective tool to help managers with problem-solving. However, forecasting is more beneficial for managers who are familiar with its basics and potential applications. They focus on forecasting sales for Corning Glass Works products as they mature through their product life cycles.