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projection or forecast? #63

Answered by sbfnk
avallecam asked this question in Q&A
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I think sadly there isn't any commonly accepted definition. To me these are quite similar and I would perhaps define them as:

  • Prediction == forecast (except in a statistical sense when predictions can be any unobserved, including past, data)
  • Forecast: a statement about the future i.e. giving predicted probabilities for future outcomes (if a deterministic forecast then that probability == 1)
  • Projection: the same as "simulation", i.e. a model run forward; often, but not necessarily always, assuming things may stay the same. A projection may be used as a forecast, or as a scenario.

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Answer selected by jamesmbaazam
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Converted from issue

This discussion was converted from issue #59 on May 11, 2023 14:10.