Demand forecasting might be simple in stable environments where the future very closely resembles the past. Most small business owners learn early on, however, that the future rarely replicates ...

One example of this forecasting of behavior that economists attempt is the price elasticity of demand. The price elasticity of demand attempts to determine the percentage change in the quantity ...

1. Recognize and accept that uncertainty is a fact of life in demand forecasting. Think back to the beginning of 2020, for example. Who could have predicted there would be such a sudden ...

Learn More Many businesses struggle with demand forecasting. Whether you run a small business or a large enterprise, the challenge of predicting customer behavior and stock levels never gets easier.