Demand forecasting works much better for industries with long product development times, because changes don’t happen very rapidly. Since the wall-mounted bottle opener development time is short, a lot of changes can occur quickly and alter the accuracy of the forecast.
Your team is in the middle of a debate about whether or not they can use demand forecasting to predict the probability that an individual will buy your new wall-mount bottle opener. You’ve been listening carefully during the meeting but haven’t weighed in yet. Which of the following points convinces you that your team shouldn’t use demand forecasting?
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