Problem:
Respond to the following post with new insights and a question: Errors in Forecasting Over Reliance on Historical Data A common mistake is purely relying on historical data. Stickly relying on past data can cause a forecast to not be forward thinking and not account for growth. Historical data should be used as a foundation but not the entire forecast. With historical data as the foundation a company should also consider their current state, including opportunities and threats that can affect the forecast Confirmation bias