Forecasting Models in Management Science: Trends and Applications

Abstract

Forecasting plays a pivotal role in management science, aiding decision-making processes across various sectors. This paper reviews recent trends and applications of forecasting models in management science. Through a comprehensive analysis of literature, this study identifies emerging methodologies, challenges, and future directions in the field of forecasting. The paper highlights the importance of accurate forecasting in enhancing organizational performance and competitiveness. It also discusses the integration of advanced technologies such as artificial intelligence and machine learning into forecasting models, offering insights into their potential impact on management decision-making.