Prediction

Most people think prediction as "a statement or claim that a particular event will occur in the future in more certain terms than a forecast." (See Wikipedia) This is true as far as it goes. However in statistics, prediction refers to the extent wo which, if you know A, you can, within a stated margin of error, correctly guess B. If you can do that, A is said to be an excellent predictor of B. For example, in many studies, age has been shown to be an excellent predictor of wealth. The Wikipedia article has a fuller discussion of prediction as guessing the future, but this is one of those articles I'm going to edit.

Prediction is big for entrepreneurs. They must act to effect the future. Yet what will that future bring. They must also understand their business. They must identify indicators that predict robust, positive cash flow.

If this or anything else grabbed you, post a comment.

All my professional activities are entrepreneurial. For real estate 2.0 go to www.yourstopforrealestate.com/blog; and for writing go to www.kearneymusicschoolmurders.blogspot.com.