industry forecast!

industry forecast

Comprehensive Analysis

1) "Industry" -- As to industry forecast in·dus·try Pronunciation: 'in-(")d&s-trE Function: noun Inflected Form(s): plural -tries Etymology: Middle English (Scots) industrie, from Middle French, from Latin industria, from industrius diligent, from Old Latin indostruus, perhaps from indu in + -struus (akin to Latin struere to build) -- more at END-, STREW 1 : diligence in an employment or pursuit; especially : steady or habitual effort 2 a : systematic labor especially for some useful purpose or the creation of something of value b : a department or branch of a craft, art, business, or manufacture; especially : one that employs a large personnel and capital especially in manufacturing c : a distinct group of productive or profit-making enterprises <the banking industry> d : manufacturing activity as a whole <the nation's industry> 3 : work devoted to the study of a particular subject or author <the Shakespeare industry> synonym see BUSINESS Pronunciation Symbols For other uses of this term, see Industry (disambiguation) GDP composition of sector and labour force by occupation. The green, red, and blue components of the colours of the countries represent the percentages for the agriculture, industry, and services sectors, respectively. Industry is the segment of economy concerned with production of goods. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day. Many "developed" countries (The U.S., the UK, Canada) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web that may be hard to understand at first glance. Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the development of steam engines, power looms, and advances in large scale steel and coal production. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily establishing links with previously unreachable world markets, enabling private companies to develop to then-unheard of size and wealth. Manufacturing is a wealth producing sector in an economy. Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share. In economics and urban planning, industrial is a type of land use and economic activity involved with manufacturing and production. Clark's Sector Model (1950) 1 History 2 Industrial development 2.1 Declining industries 3 Industrial technology 4 Industry sectors and classification 5 Industry and society <..." 2) "Forecast" -- As to industry forecast 1fore·cast Pronunciation: -"kast; for-'kast Function: verb Inflected Form(s): forecast also fore·cast·ed; fore·cast·ing transitive verb 1 a : to calculate or predict (some future event or condition) usually as a result of study and analysis of available pertinent data; especially : to predict (weather conditions) on the basis of correlated meteorological observations b : to indicate as likely to occur 2 : to serve as a forecast of : PRESAGE <such events may forecast peace> intransitive verb : to calculate the future synonym see FORETELL - fore·cast·able /-"kas-t&-b&l/ adjective - fore·cast·er noun Pronunciation Symbols Forecasting is the process of estimation in unknown situations. Prediction is a similar, but more general term, and usually refers to estimation of time series, cross-sectional or longitudinal data. Forecasting is commonly used in discussion of time-series data.[1] The main source of information about forecasting on the internet is the Forecasting Principles site, forecastingprinciples.com. Forecasting Principles summarizes all useful knowledge about forecasting for researchers, practitioners, and educators. It is provided as a public service by the International Institute of Forecasters. The Institute publishes the journals International Journal of Forecasting and Foresight, and organizes International Symposia on Forecasting and forecasting workshops. 1 Categories of forecasting methods 1.1 Time series methods 1.2 Causal / econometric methods 1.3 Judgemental methods 1.4 Other methods 2 Forecasting accuracy 3 Application of forecasting 4 References 5 See also 6 External links Time series methods use historical data as the basis for estimating future outcomes. Moving average Exponential smoothing Extrapolation Linear prediction Trend estimation Growth curve Some forecasting methods use the assumption that it is possible to identify the underlying factors that might influence the variable that is being forecasted. For example, sales of umbrellas might be associated with weather conditions. If the causes are understood, projections of the influencing variables can be made and used in the forecast. Regression analysis using linear regression or non-linear regression Autoregressive movi..." 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