Process for making informed predictions
Informed predictions are made by the help of strategic planning process and there are three steps to successfully make the informed predictions such as:
The first step discuss about the variables which is required and needed to identify by the people.
The second step is to focus on the market research and to conduct the market research and the third step complies to make the informed prediction is based on the knowledge, experience, judgment and is based on the findings and result of the research that has been conducted in the market place.
This would be clearer by giving a certain example such as: when the group of people planning to go for a long business trip then make informed predictions such as the types of clothes they will need in the visit whether formal, casual or informal, the type of food they will get, they will assume whether they will require winter clothes or summer clothes, if winter, then what will the quantity of clothes? They will also predict if they will require two businesses / corporate suit or three? They presume that what is required in meetings and they also assume and predict that what they require in those meetings and so on, this is the process of informed predictions.

Posted Date: 2/6/2012 11:07:38 PM | Location : United States

Ask an Expert

Related Discussions:- Process for making informed predictions, management, Assignment Help, Ask Question on Process for making informed predictions, management, Get Answer, Expert's Help, Process for making informed predictions, management Discussions

Write discussion on Process for making informed predictions, management
Your posts are moderated

Write your message here..

Related Questions

Problem , problem of behavior in banking industry ? problem of behavior in banking industry ?

Financial mgmt, This case has been framed in order to test the skills in ev... This case has been framed in order to test the skills in evaluating a credit request and reaching a correct decision. Perluence International is large manufacturer of petroleum and

Mba, Explain some of the approaches for handling customers complaints and l... Explain some of the approaches for handling customers complaints and listening to customers ?

Business outline, how to write a business outline how to write a business outline

Scientific management, i need some suggestion about Frederick Winslow Taylo... i need some suggestion about Frederick Winslow Taylor

IT Managemant, http://www.expertsmind.com/question/?pi=it-management-301196... http://www.expertsmind.com/question/?pi=it-management-3011965

What is business strategy, Business Strategy The set of policies ... Business Strategy The set of policies used to develop individual processes within a business, including decisions regarding individual products, suppliers, products, mark

cost control and rent extraction, Think of a state where the regulator is ... Think of a state where the regulator is uncertain as to the true cost of the regulated firm. Also, the firm (the firm's management) can work harder or less hard to control costs; i

Analyzing a current om technique, Analyzing a current OM technique Find a ... Analyzing a current OM technique Find a scholarly journal article reporting on one or more of the following techniques: business analytics, dashboards, decision support systems, p

Zoology, chordat animal information chordat animal information