Please read the article from Forbes magazine titled “Demand Forecasting: Going Beyond Historical Shipment Data” found at the following link:
The author of the article indicates that forecasting can be improved by incorporating additional data points beyond simple historical data. Forecasting in our class has so far been limited to the use of historical data and seasonality trends. Research and suggest an additional data element that can be incorporated into supply chain forecasting besides historical data and seasonality trends. Comment on how this additional data can improve the forecast.