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Running head: FORECASTING METHODForecasting MethodStudents NameInstitutional Affiliation12FORECASTING METHODForecasting MethodBased on predicted future demand, a business can plan for future operations. Forecastsand real customer orders are sources where expected demand is derived. As Armstrong & Green,(2018) explain forecasts provides information on future demand and in operations managementthey are a basic input in decision processes. Businesses use historical data to create an estimateof a probable forecast of client demand. Some critical business assumptions are dependent ondemand such as profit margin, mitigation plan, and risk assessment. Businesses are helped byforecasts to identify appropriate responses to changes in demand levels. Managers shouldunderstand different types of forecasting methods, and what each particular method can do orcannot, identifying best-suited forecast type for a certain need to receive benefits from forecasts.Clients of Highline Financial Services are offered A, B, and C types of services. Themanaging partner Mr. Mack provided data of the past eight quarters for services A, B, and C.Competition, advertising, and promotion aspects did not change (Stevenson, 2012). Using naveforecast and moving average, the data can be used to estimate demand for the three types ofservices in all subsequent four quarters. Historical data for a past period is used to project for afuture period in nave forecasting. Utilization o ...


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