Methods of Forecasting

There are various methods encompassing forecasting. They are as below:
1) Multiple Regression Analysis: This is used when 2 or additional independent factors are widely involved and also used for the intermediate term forecasting. It is used to analyze as to which aspects are to be included and which to be excluded. It can also be used to develop alternating models with different factors.
2) Nonlinear Regression: This does not figure a linear correlation between the variables which are repeatedly used while time is an independent variable.
3) Trend Analysis: This uses linear in addition to nonlinear regression with time as the explanatory variable which is used where pattern is actually over time.