forecasting precision
[ˈfɔːrkæstɪŋ prɪˈsɪʒən]
noun phrasepl: forecasting precisions
precisão de previsão
1. The accuracy and exactness with which future events, trends, or outcomes are predicted or estimated
The company improved its forecasting precision by implementing advanced analytics tools.
A empresa melhorou sua precisão de previsão implementando ferramentas de análise avançada.
2. The degree to which forecasts closely match actual observed results, measured by statistical metrics
Forecasting precision is critical in inventory management and demand planning.
A precisão de previsão é crítica na gestão de inventário e planejamento de demanda.
3. The technical ability to make detailed and accurate predictions using quantitative methods
Weather forecasting precision has increased significantly due to satellite technology.
A precisão da previsão meteorológica aumentou significativamente devido à tecnologia de satélite.
The term is primarily used in business, finance, and technical contexts in both Brazil and the USA. In Brazilian companies, especially multinational corporations, 'precisão de previsão' is standard terminology in supply chain and financial planning departments. The concept is particularly important in emerging markets like Brazil where accurate forecasting helps mitigate economic volatility.
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