In no more than 10 sentences, identify and explain  the different forecasting  need of organizations

Businesses benefit from forecasting because it allows them to make informed business decisions and establish data-driven strategies. Financial and operational decisions are based on current market conditions as well as forecasts for the future. Past data is compiled and examined to uncover patterns, which are then utilized to forecast future trends and changes. Forecasting enables your business to be proactive rather than reactive.

Assists with goal-setting and planning, forecasting allows organizations to create acceptable and achievable goals. Having reliable data and statistics to evaluate assists firms in determining what level of change, development, or progress will be considered successful. Having these objectives allows you to assess your progress and make changes to your business procedures as needed to stay on track. Certain systems, such as CRM (covered later in this blog), aid visual forecasting and provide insight into things like the sales pipeline, opportunities, and more.