What are the main challenges in financial forecasting?
Some key challenges include data accuracy, market volatility, and changing economic conditions.
How does data accuracy impact forecasting?
Data accuracy is crucial; inaccurate data can lead to poor predictions and misguided business decisions.
What strategies can be used to improve forecasting accuracy?
Strategies include using advanced analytics, incorporating real-time data, and regularly updating models.
Can you explain how market volatility affects forecasts?
Market volatility introduces uncertainty, making it harder to predict future trends and financial outcomes.
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