On June 2, 2014, the City Council of Seattle, Washington passed a local ordinance to increase the minimum wage of the city to $15 an hour, giving the city the highest minimum wage in the United States, which will be phased in over seven years, to be fully implemented by 2021.
For other uses, see Forecast (disambiguation). Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term.
Demand forecasting is nothing but making predictions (forecasts) of future needs based on the current data (demand). In other words it is just a probability of something happening based on your previous experiences.We do demand forecasting because everthing in this world follows a pattern. For eg - seasons (summer, winter, etc).