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Estimation vs Prediction - What's the difference?

estimation | prediction | Related terms |

As nouns the difference between estimation and prediction

is that estimation is the process of making an estimate while prediction is a statement of what will happen in the future.

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

    prediction

    English

    (wikipedia prediction)

    Alternative forms

    * (archaic)

    Noun

    (en noun)
  • A statement of what will happen in the future.
    • "It's tough to make predictions, especially about the future." (in translation from Danish)

    Synonyms

    * (statement about the future) forecast, halseny, prognosis, prognostication