Forecast by analogy
= Forecast by analogy
{wiki=Forecast_by_analogy}
Forecast by analogy is a forecasting method that involves using established patterns or trends from one context or situation to make predictions about another, similar context or situation. This approach relies on the assumption that if two scenarios share certain characteristics, the outcomes or performance in one scenario can be used to inform expectations in the other. For example, in business, a company might examine the sales trends of a similar product in a different market to project the potential sales of its new product.