Łódź, Poland

Trend Analysis and Forecasting in Business

Analiza i prognozowanie trendów w biznesie

Language: Polish Studies in Polish
Studies online Studies online
University website: www.merito.pl/english/lodz
Analysis
Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.
Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Forecasting
Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Usage can differ between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period.
Trend
Trend, trending, or trends may refer to:
Analysis
The fact that all Mathematics is Symbolic Logic is one of the greatest discoveries of our age; and when this fact has been established, the remainder of the principles of mathematics consists in the analysis of Symbolic Logic itself.
Bertrand Russell, Principles of Mathematics (1903), Ch. I: Definition of Pure Mathematics, p. 5
Analysis
Philosophers hasten too much from the analytic to the synthetic method ; that is, they draw general conclusions from too small a number of particular observations and experiments.
Lord Bolingbroke, reported in Austin Allibone ed. Prose Quotations from Socrates to Macaulay. (1903), p. 34
Analysis
Analysis and natural philosophy owe their most important discoveries to this fruitful means, which is called induction. Newton was indebted to it for his theorem of the binomial and the principle of universal gravity.
Laplace, A Philosophical Essay on Probabilities, [Truscott and Emory] (New York 1902), p. 176.

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