Business Forecasting Vocabulary

noun an approximate calculation or judgment of the value, number, quantity, or extent of something

• The project manager provided a detailed estimation of the costs involved in the construction.
• I made a rough estimation of how long it would take to drive to the beach.
• I took a wild guess at the number of people attending the party, but my estimation was way off.
• Her estimation of his character turned out to be completely wrong.

verb Foreseen is the past participle form of the verb 'foresee', which means to predict or anticipate something happening in the future.

• The potential risks were carefully foreseen and addressed in the project plan.
• I never foreseen that happening, it was a total surprise.
• I didn't see that coming, it was totally unforeseen.
• The storm was foreseen on the horizon, a metaphor for the challenges ahead.

noun a principle in economics that suggests that an increase in demand for goods will lead to an increase in production to meet that demand

• The acceleration principle states that an increase in demand for goods will lead to an even greater increase in investment.
• According to the acceleration principle, when people want more stuff, businesses invest more to make it.
• The acceleration principle basically says that when people start buying more, companies start making more.
• Just like a snowball rolling downhill, the acceleration principle shows how demand can quickly build upon itself.