It's All about Cyber Security.

  The purpose of forecasting is to predict outcomes of events or future states that have not yet occurred. A framework and process for vision are established for many areas such as healthcare, weather, business, and education. (Seeman, 2002). The term prediction is more general when it comes to similarity. A forecasting method is a form of prediction method. Both use formal statistical techniques such as time series, longitudinal or cross-sectional data, quantitative or qualitative methods, or less formal judgment techniques. A prediction, on the other hand, refers to a more general estimate of values with a number of times happening over a long period of time rather than specific values estimated at a specific future time. (Garett, 2013; Ogilvy, 2015). For this task I will use the narrative story entitled Freeman Dyson Talks regarding Biotech compared to Nanotech narrated or rather authored by Blyler, J. (2009). The infamous story        ...

 It is important to understand what each of these methods means before explaining the differences between scenario planning and forecasting. Furthermore, their significance in our world of innovation and technology is ever-changing. Likewise, the advantages and disadvantages of each. There has been a rapid change and intertwinement of uncertainty and chaos in the dynamic and energetic world within the past few years. It is nearly impossible to predict what the future will be like from the present. Businesses in aggressively competitive environments realize that identifying potential changes and being ready for them is very important. A scenario planning approach in business provides a better alternative to traditional forecasting, which can no longer respond adequately to gradual and sudden changes (Seeman, S. (2002).      What is traditional forecasting?  In traditional forecasting, the outcome of an event or future state is predicted without having seen it. In...