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Introducing projections - Coggle Diagram
Introducing projections
Nowcasting
present
lacks all the data
short term
1-2 years
medium term
2-5 years
potentially 10 years
Lower accuracy
Newer technologies
New policy
Unforseable shocks
Long term
10+ Years
Upto 50+
Single variable
Trend
Seasonality
Cyclicality
Fluctuations over years
Noise
irregular pattern
OLS (Ordinary least Squares)