Beginner level · Module 5: Business Forecasting Basics · Lesson 3 of 3
Presenting Forecasts Honestly
Present forecasts as ranges with their assumptions, and update them as new data arrives.
In this lesson you will
- Present a forecast as a range with assumptions
- Plan how forecasts will be reviewed
Key concepts
point forecast vs rangeassumptionsforecast errorreview
The lesson
Present forecasts as a range: 'about 1.0 to 1.1 million SSP next month', with the most likely value and the method used.
State the assumptions — no major supply problems, stable prices — so readers know when the forecast might fail.
Compare forecasts with actual results each month and improve the method over time.
Step by step
- Turn the forecast into a range.
- List its assumptions.
- Add it to the quarterly report.
- Plan the monthly review.
Practice activity
Complete and present the Quarterly Business Performance Report with its forecast.
Expected result: A complete report with an honest, explained forecast.
Check your understanding
-
Why present a forecast as a range?
Show answer
Future values are uncertain; a range shows that honestly.
-
Why list forecast assumptions?
Show answer
So readers know when the forecast might not hold.
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