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𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐢𝐧𝐠 𝐕𝐬 𝐏𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐨𝐧 | Difference between Forecasting & Prediction | Forecasting vs Projection. What is the difference between prediction and forecast? Prediction is concerned with estimating the outcomes for unseen data. #Forecasting is a sub-discipline of prediction in which we are making #Predictions about the future, on the basis of time-series data. Thus, the only difference between prediction and forecasting is that we consider the temporal dimension. 🎭 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐦𝐲 𝐘𝐨𝐮𝐓𝐮𝐛𝐞 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: / digitalelearning ✅ 𝐕𝐢𝐬𝐢𝐭 𝐦𝐲 𝐘𝐨𝐮𝐓𝐮𝐛𝐞 𝐬𝐭𝐨𝐫𝐞: / @digitalelearning 🏆 𝐁𝐞𝐬𝐭 𝐁𝐨𝐨𝐤 𝐨𝐧 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 ( 🎭 𝐌𝐮𝐬𝐭 𝐑𝐞𝐚𝐝 ) ===================================== 📖 𝐆𝐮𝐢𝐝𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐁𝐨𝐝𝐲 𝐨𝐟 𝐊𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/4g7oxxh 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/4g7oxxh 📖 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐀𝐥𝐥-𝐢𝐧-𝐎𝐧𝐞 𝐅𝐨𝐫 𝐃𝐮𝐦𝐦𝐢𝐞𝐬 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/4hpezIn 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/3CfhkgF 📖 𝐇𝐞𝐚𝐝 𝐅𝐢𝐫𝐬𝐭 𝐏𝐌𝐏 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/40qKUb9 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/4gmYH8I 📖 𝐒𝐖𝐎𝐓 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/3WoYDOk 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/3PHjubW 📖 𝐍𝐞𝐭 𝐏𝐫𝐞𝐬𝐞𝐧𝐭 𝐕𝐚𝐥𝐮𝐞 (𝐍𝐏𝐕) 𝐆𝐮𝐢𝐝𝐞 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/3WrzXEV 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/3WrzYbX 📖 𝐏𝐌𝐏 𝐏𝐫𝐞𝐩 𝐄𝐱𝐚𝐦 𝟐𝟎𝟐𝟒 - 𝟐𝟎𝟐𝟔 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/4htztX2 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/4h7j4I3 📖 𝐇𝐨𝐰 𝐭𝐨 𝐖𝐫𝐢𝐭𝐞 𝐚 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐏𝐥𝐚𝐧 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/42ltz5Z 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/42k0O9B 📖 𝐁𝐚𝐥𝐚𝐧𝐜𝐞𝐝 𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝 𝐒𝐭𝐞𝐩–𝐛𝐲–𝐒𝐭𝐞𝐩 🚩𝐀𝐦𝐚𝐳𝐨𝐧 𝐈𝐧𝐝𝐢𝐚: https://amzn.to/4g6PCR7 🔵𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞: https://amzn.to/4gZhKa6 📢📢 𝑺𝒐𝒄𝒊𝒂𝒍 𝑴𝒆𝒅𝒊𝒂 𝑳𝒊𝒏𝒌: -------------------------------------------------- 🙋🏻♂️𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞 : / digitalelearningguru 📸𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 : / digital_elearning 🙋🏻♂️𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 : / 55180987 🐦𝐓𝐰𝐢𝐭𝐭𝐞𝐫 : / digitalelearni1 🙋🏻♂️ 𝐏𝐢𝐧𝐭𝐫𝐞𝐬𝐭: / digitalelearning007 🔵𝐖𝐞𝐛𝐬𝐢𝐭𝐞: https://digitalelearnings.com 💌 𝑪𝒐𝒏𝒕𝒂𝒄𝒕 𝒖𝒔 : digital.e.learning007@gmail.com for any business/ promotion queries. 𝐉𝐨𝐢𝐧 my 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬 for regular updates: -------------------------------------------------------------------------------- 📩 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 (𝐋𝐞𝐚𝐧 𝐬𝐢𝐱 𝐬𝐢𝐠𝐦𝐚) : https://t.me/digital_e_learning007 📩 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 (𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 & 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 ) : https://t.me/learn_statistics 📩 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 (𝐒𝐢𝐱 𝐒𝐢𝐠𝐦𝐚 (𝟔σ ) : https://t.me/six_sigma_videos 📩 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 (𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭) : https://t.me/project_managementPMP 📩 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦 (𝐌𝐬 𝐄𝐱𝐜𝐞𝐥 𝐓𝐢𝐩𝐬 𝐚𝐧𝐝 𝐓𝐫𝐢𝐜𝐤𝐬) : https://t.me/excel_tricks_trips 𝐉𝐨𝐢𝐧 my 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬 for regular updates: -------------------------------------------------------------------------------- ✅ 𝐋𝐞𝐚𝐧 𝐬𝐢𝐱 𝐬𝐢𝐠𝐦𝐚: https://whatsapp.com/channel/0029VaAU... ✅ 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 & 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 : https://whatsapp.com/channel/0029VaAG... ✅ 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: https://whatsapp.com/channel/0029Va8s... ✅ 𝐒𝐢𝐱 𝐒𝐢𝐠𝐦𝐚 (𝟔σ ) : https://whatsapp.com/channel/0029VaEW... ✅𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐀𝐬𝐬𝐮𝐫𝐚𝐧𝐜𝐞 & 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 : https://whatsapp.com/channel/0029VaAK... ⏱️ 𝑻𝒊𝒎𝒆 𝑺𝒕𝒂𝒎𝒑 ⏱️ ------------------------------- 0:00 - Introduction 0:36 - What is Forecasting ? 3:43 - What is Prediction ? 5:21 - Difference between Forecasting & Prediction ✍️ 𝓓𝓲𝓼𝓬𝓵𝓪𝓲𝓶𝓮𝓻: Copyright Disclaimer under section 107 of the Copyright Act of 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. The information contained in this video is just for educational and informational purposes only and does not have any intention to mislead or violate Google and YouTube community guidelines or policy. I respect and follow all terms & conditions of Google & YouTube. 𝐂𝐨𝐦𝐦𝐨𝐧 𝐊𝐞𝐲 𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐭𝐨 𝐭𝐡𝐢𝐬 𝐭𝐨𝐩𝐢𝐜 : ---------------------------------------------------------------------- #Digital_e_Learning #Forecasting #Prediction #MBA #PMP #Project_Management #Lean #LeanSixSigma #SixSigma #Quality budget vs forecast vs actual budget vs forecast vs projection budget forecast actual budget vs forecast forecast versus budget forecast vs budget vs actual