A major reason that forecasting is so important in business is that
A) customers often demand forecasts before they purchase equipment.
B) forecasts accurately describe a company's history.
C) forecasts are good for spotting errors in current operations.
D) spotting trends can give you an edge over the competition.

Question

Quizplus · Accepted Answer

Spotting trends and predicting future demand can give a company an edge over the competition by allowing them to plan and prepare accordingly. It can also help avoid unnecessary expenses or stock shortages.

A Major Reason That Forecasting Is So Important in Business