Q: Is a Forecasting the process of making predictions of the future based on past and present data and most commonly by analysis of trends? ¶
A: Yes.
Q: Is a Forecasting used in Customer Demand Planning in everyday business for manufacturing and distribution companies? ¶
A: Yes.
Q: Is a Forecasting used in cases where there is lack of historical data or during completely new and unique market conditions? ¶
A: Yes.