Price forecasting is the process of predicting future prices of goods, services, or assets based on historical data and market trends. This technique is commonly used in various industries, including finance, agriculture, and retail, to help businesses make informed decisions about pricing strategies and inventory management. Analysts use various methods for price forecasting, such as statistical models, machine learning algorithms, and economic indicators. By analyzing patterns and trends, they aim to provide insights that can help companies optimize their operations and improve profitability while minimizing risks associated with price fluctuations.