A forecast is an estimate of future outcomes or events. It is typically used by decision-makers to anticipate what might happen and make appropriate plans or adjustments accordingly. The term “forecasted” refers to the fact that a forecast has already been made; it is the past tense of “forecast.” For example, saying “the weather was forecasted to be warm next week” means that somebody predicted that the weather will be warm next week. Forecasting is often used in business contexts to plan inventory, budgeting, staffing, and marketing initiatives. Being able to accurately predict future trends helps businesses stay ahead of the competition and maximize their profits.