Forecasting: theory and practice

Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds future is both exciting challenging, with individuals organisations seeking to minimise risks maximise utilities. large number forecasting applications calls for a diverse set methods tackle real-life challenges. This article provides non-systematic review theory practice forecasting. We provide an overview wide range theoretical, state-of-the-art models, methods, principles, approaches prepare, produce, organise, evaluate forecasts. then demonstrate how such theoretical concepts are applied in variety contexts. do not claim this exhaustive list applications. However, we wish our encyclopedic presentation will offer point reference rich work undertaken over last decades, some key insights practice. Given its nature, intended mode reading non-linear. cross-references allow readers navigate through various topics. complement covered by lists free or open-source software implementations publicly-available databases.