Reliability of Business Forecasting Process in the Context of Machine Learning Approach

Abstract

Every nation's economic development is inextricably linked to the success of its business sectors. A business also involves the production, acquisition, and sale of goods and services in order to make money. The business has a direct impact on GDP (GDP). Sales, expenses, and profits are the three main metrics used in business forecasting. Business forecasting, however, is useful for a variety of purposes, including planning, decision-making, resource allocation, and business growth. Consequently, business forecasting is essential for any company's development. This research explores a novel method for strategic business forecasting, one based on Poisson distributions. New insights into business forecasting in the context of machine learning classifiers have been highlighted, suggesting promising new avenues for study in the field of business analytics.