What are the factors that affect prediction accuracy?
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What are the factors that affect prediction accuracy?
1. The level of attention given by management 2. Whether there are channels for receiving information from customers within the organization 3. The commitment to making predictions: this requires the effort of the entire team (seamless coordination among sales, supply chain, and production departments) 4. The availability of relevant supplementary information, such as details on new products, design changes, shifts in key customer groups, promotional activities, and economic indicators 5. Access to historical data on product demand 6. Availability of the necessary computer hardware and software