logo
Ask Question

Asked by Christine Angora on Apr 28, 2024

verifed

Verified

Briefly explain the difference between a direct forecast and a lost-horse forecast.

Direct Forecast

A prediction technique focused on estimating future trends, sales, or market behavior directly based on historical data and analysis.

Lost-Horse Forecast

A method of making predictions based on past events without considering why those events happened, akin to looking for a lost horse based on where you've found it in the past rather than understanding where it likes to go.

  • Comprehend the diverse prediction techniques utilized in marketing and their suitability.
verifed

Verified Answer

ZK
Zybrea KnightMay 05, 2024
Final Answer :
A direct forecast involves estimating the value to be forecast without any intervening steps. A lost-horse forecast involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.

Related questions

Cool-Hunting Is a Type of Judgment-Based Forecasting Method That Involves ...

Futuring Relies on the Idea That the Future Is ________ ...

How Can Marketers Identify Marketplace Trends? Discuss the Various Methods ...

The Last Four Weekly Values of Sales Were 80, 100 ...

Briefly Explain What a Marketing Experiment Is ...