Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Differentiate between forecasting and prediction ?

user-image
Question added by Amjed Mehboob , G.M -(Currently Job Seeking ) , Advance Education centre
Date Posted: 2016/03/22

  In time series, forecasting seems to mean to estimate a future values given past values of a time series.

In regression, prediction seems to mean to estimate a value whether it is future, current or past wrt the given data.

 

Forecasting is statment to estimate the future on the basis of past data.

Prediction is the statement to estimate the value on the basis of future , current and past data.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.