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Estimation vs Forecasting - What's the difference?

estimation | forecasting |

As nouns the difference between estimation and forecasting

is that estimation is the process of making an estimate while forecasting is a forecast or prediction.

As a verb forecasting is

.

estimation

English

Alternative forms

* (archaic)

Noun

(en noun)
  • The process of making an estimate.
  • The amount, extent, position, size, or value reached in an estimate.
  • Esteem or favourable regard.

    • Derived terms

    * estimate

    Related terms

    * esteem

    forecasting

    English

    Verb

    (head)

    • Noun

    (en noun)
  • A forecast or prediction.
  • * 1852 , The Dublin University Magazine (page 66)
    • There were sneers, and scoffs, and inuendoes of some; prophecies of failure in a hundred ways; forecastings of non-completion, forecastings of swift dissolution and crashing ruin