What are some of the potential benefits of a more formalized approach to forecasting?

Questions:
1. What are some of the potential benefits of a more formalized approach to forecasting?
2. What is your weekly forecast for periods F15 to F18 for each of Product 1 and Product 2. Explain your choice of technique for each product. Also, for each product, you must plot the data for the first 14 weeks and then provide another graph showing the plotted data for all 18 weeks – which includes your new forecast period.

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