Forecasting Fundamentals You Should Know Before Building Predictive Models

To forecast, or not to forecast, that is the question.

The history of human civilization is entwined with the history of methods we have tried with forecasting. While our ancestors observed the sky to forecast the weather, Data Scientists develop and train machine learning models to predict sales, risks, events, trends, etc. Accurate forecasting is a critical organizational capability, and businesses that do it well would have a big advantage to survive.

What should be forecast